UK allocates 4.2 billion USD to boost trade ties with Morocco

RABAT, March 27 (Xinhua) -- A total of 4.2 billion U.S. dollars will be allocated by the United Kingdom to support British companies wishing to export their products to or set up plants in Morocco, Morocco's official MAP news agency reported on Tuesday.

This announcement was made by representative of the UK Department for International Trade in Morocco, Jason Ivory, at the Moroccan-British forum on trade and investment in London, the report pointed out.

The allocation of such large sum by UK Export Finance, a government agency dedicated to promoting British exports, testifies to the confidence placed in Morocco by UK financial authorities, Ivory said.

He also called on companies to seize this financial windfall and the business opportunities offered in Morocco, noting that economic operators who want to trade or export to the kingdom will receive the necessary support from his department.

UK Prime Minister Trade Envoy to Morocco, Andrew Murrison, stressed that the UK's decision sends a strong signal to the business community and reflects the willingness of British officials to intensify trade and strengthen economic cooperation with Morocco, he said.

The Moroccan Minister for Finance and Economy, Mohamed Boussaid, has led a delegation of senior governmental and business officials to London for the UK-Morocco Trade & Investment Forum 2018.

This forum aims to showcase the huge opportunities that Morocco has both within the country and wider afield as a gateway to the region. Enditem