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Kuwait hopes investment volume with Morocco increases - FM
February 4, 2015, 8:37 am
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First Deputy Prime Minister and Foreign Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah during the signing ceremony.

Kuwait First Deputy Prime Minister and Foreign Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah on Tuesday hoped investment volume with Morocco to increase in the near future.

His remarks came during a meeting of the Kuwait-Moroccan higher committee, pointing out that trade volume between the two countries reached USD 100 million last year, while ventures overseen by the Kuwait Investment Authority in Morocco surpassed USD 1.1 billion in the fields of economy and tourism.

He underlined that despite geographical distance, Kuwait and Morocco could be considered a "model" in bilateral relations, reminiscing at the same time Morocco's "memorable" stances in support of Kuwaiti causes.

He carried on saying that out of Kuwait's keenness on support of development in Morocco, the Kuwait Fund for Arab Economic Development (KFAED) contributed in financing up to 39 projects since 1966 all the way to 2011, while direct Kuwaiti developmental contributions reached USD 941 million from the 1974 to 2015 period.

As for GCC-Morocco cooperation, Sheikh Sabah Al-Khaled said it was based on "strategic and integrated partnership," especially when it comes to the Arab core cause; the Palestinian issue.
On terrorism, the Kuwaiti senior official expressed concern of the growing of such phenomenon and stressed the need to counter it with all means possible, pointing out to Kuwait's efforts, as part of the international coalition against terrorism, in this regard.

Following the committee meeting, co-chaired by Moroccan Foreign Minister Salahuddine Mezouar, the two countries signed seven cooperative agreements, memos of understanding and executive programs in the fields of renewable energy, culture, arts, postal services, export promotion, youth and sports, industry and education.

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