28 September 2017

Morocco, Eurasian Economic Commission Sign Cooperation Memorandum

Rabat — Morocco and the Eurasian Economic Commission (EEC) signed, on Thursday in Rabat, an economic cooperation memorandum to strengthen relations between the two sides.

"This memorandum on cooperation between Morocco and the EEC will make it possible to formalize relations between the two parties," Minister in charge of Integration and Macroeconomics at the EEC, Tatyana Valovaya, said following talks with Minister of Foreign Affairs and International Cooperation, Nasser Bourita.

Under the agreement, a joint group will be set up to discuss issues relating to economic cooperation between Morocco and the EEC, she added, noting that the Eurasian Economic Community, which includes Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan, is a market of 180 million people.

In his turn, Bourita said that the signing of this agreement is part of the diversification of partnerships between Morocco and regional groupings, in accordance with the high royal guidelines.

Morocco, which has bilateral relations with the countries of the EEC, aims to increase its exports with this economic grouping, particularly in the agricultural sector, he stressed.

The EEC had signed partnerships with other countries, namely Singapore, Chile and Peru, which shows that it sees Morocco as a "credible partner and a gateway" to Africa and other regions with whom the Kingdom enjoys excellent relations, he said.

The Eurasian Economic Commission (EEC) is the permanent regulatory body of the Eurasian Economic Union (EAEU). It started work on February 2, 2012.

The main purpose of the EEC is ensuring the functioning and development of the EAEU, and developing proposals for the further development of integration.

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