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Rabat – Deputy Prime Minister of Luxembourg Etienne Schneider announced on Wednesday, September 24, in Tangier that his country will open a Trade and Investment Office (LTIO) in Casablanca, Morocco.
The center, according to Schneider, seeks to foster cooperation between the two countries.
The official, who is also Luxembourg’s Economy Minister, said that the office will be part of the LTIO’s global network, according to Moroccan television channel 2M.
The network provides support to Luxembourger companies seeking to expand their business activities abroad.
The center will be the ninth LTIO. The official said that the creation of the center in Morocco is in line with Luxembourg’s government program to expand its network, especially in promising markets such as Africa.
Morocco also expressed satisfaction with the creation of the center in Morocco.
The chairman of the Supervisory Board of the Tangier-Mediterranean Special Agency, Fouad Brini, said that ties between the two countries constitute a “major asset in the development of bilateral cooperation in several areas, including logistics.”
Read Also: Official: Luxembourg Firms Consider Morocco a Gateway to Africa
On September 23, Schneider said that companies from Luxembourg, which are active in Africa, see Morocco as a real investment hub.
The official is leading a high-level economic mission from Luxembourg to Morocco on September 23-26. The Hereditary Grand Duke of Luxembourg, Prince Guillaume, and his wife Princess Stephanie de Lannoy are also part of the visit to Morocco.
President of Chamber of Commerce in Luxembourg Luc Frieden “We want to support the partnership between Morocco and Luxembourg in the various areas represented by the Chamber in a mutually beneficial way,” said Frieden.
