Rabat - Following King Mohammed VI’s “strategic and security” tour of Gulf countries, Kuwait has accelerated the release of $250 million, the remaining sum of Kuwait’s assistance to Morocco.
Rabat – Following King Mohammed VI’s “strategic and security” tour of Gulf countries, Kuwait has accelerated the release of $250 million, the remaining sum of Kuwait’s assistance to Morocco.
The $250 million released by Kuwait for the kingdom is one-fifth of the MAD 1.5 billion promised to Morocco and Jordan, two countries admitted “observer” status on the Cooperation Council Gulf (GCC), established in 1981 by Saudi Arabia, Bahrain, the UAE, Qatar and Oman.
According to the Moroccan daily newspaper Akhbar Al Yaoum on May 3, Kuwait signed off on the payments to Morocco and Jordan just after the Morocco-GCC Summit in Riyadh, which gave birth to strategic partnerships between the Gulf countries and Morocco.
The GCC extended an invitation to Jordan and Morocco to join the alliance during the GCC summit in Riyadh in May 2011.
While Morocco doesn’t belong to the Gulf States or is a wealthy oil producer, the council offered the observer status for its leading role in the region and expertise in the fight against radicalism and the perceived Shia threat in the region.
On an economic level, the Morocco-GCC alliance also aims to, ” help Africa benefit from the funding sources of the Gulf and the Moroccan expertise.
But, analysts see this alliance as a predominately political one that creates a “shield” against the aims of Iran in the region following the accords between Iran and the United States on its nuclear program.
The more than $120 billion that Morocco will receive from the Gulf countries over the next 10 year reflects the will of both parties to move forward in their economic partnership while taking advantage of their promising development prospects.
Over the past few years, Morocco has signed collaborative partnerships with most of the GCC countries that cover economic development, counter-terrorism strategies and other points of mutual concern.
Edited by Robert Allen