As part of measures towards boosting economic cooperation between the two countries, a Nigeria-Morocco Business Council has been established.
This followed an agreement signed by entrepreneurs from the two countries in Rabat, Morocco.
Chairman of the Nigerian delegation, Alhaji Yusuf Hamisu Abubakar said the agreement, which was signed and adopted by both sides, seeks to explore and break new grounds for business opportunities in the two countries.
Abubakar stated that the partnership would create better economy and closer relationship between Nigeria (the largest economy in Africa) and Morocco (highest Francophone investor after France).
“Both countries have had a long standing cultural, religious and commercial links to leverage on, formalise and expanded. We came together with the council to determine the modalities of harnessing business areas beneficial to the stakeholders.
“The leaders of our two countries, President Muhammadu Buhari and his Majesty King Mohammed IV have laid out the vision and established the framework for businesses to cooperate through partnerships and collaboration by leveraging on the comparative advantages of both countries for the benefit of our two countries and Africa in general,” he said.
The team leader further said for now, Nigeria and Morocco have 21 bilateral agreements signed by their leaders in different areas of business interests that needed private sector participation for the desired result.
Abubakar said: “We as business leaders, it’s our responsibility to make sure that we come to the realisation of those objectives because it’s through businesses that we can achieve their aspirations, and that is why we are forming the Nigeria/Morocco business council.”
He described the Nigerian team as comprising “very committed people with diverse business interests that will ensure deeper relationship and partnership between all investors.”
The team leader further said both Nigeria and Morocco were signatories to African Continental Free Trade Area (AfCFTA) which the council promised to take full advantage of.
In his remarks, Chairman Rabat chamber of commerce, Abbad Abdullah, said the council came at the right time to support the high-level talks and agreements between leaders of the two countries.
He said: “Signing the convention has strengthened the cooperative mechanism between the two countries.”