Rabat – Kuwait is the third Arab country to invest more than 1.2 billion in the North African country by the end of 2019, Morocco’s Ambassador to Kuwait Ali Ibn Issa said in an interview on Tuesday, stressing that trade exchange has not yet reached the desired level.
Speaking to the Kuwaiti daily Al Anba, Ibn Issa noted that the volume of Kuwaiti investments in Morocco places the Gulf country in the 10th position on the list of foreign investors.
Morocco holds a “strong and exemplary” strategic partnership with the Gulf country, said the Moroccan ambassador, adding that trade exchange between Rabat and Kuwait City did not exceed $84 million in 2017.
Notably, Moroccan imports from Kuwait – sulfur, refined petroleum, and others – reached $19.4 million in 2020, while Morocco’s exports to the Gulf country – including cars and beauty products – amounted to $31.8 million prior to COVID.
Dating back to the 1960s, Morocco-Kuwait relations have been consolidated over the years, said Ibn Issa, adding that there are 110 agreements, memoranda of understanding, and executive programs that support trade and investments in areas of agricultural, housing, road, and other sectors.
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The bilateral cooperation further extends to political dialogue and coordination to advance shared interests at the regional and international levels as reflected in the Kuwaiti support of Morocco’s Autonomy Plan for Western Sahara.
Stressing the good and brotherly relations between Moroccans and Kuwaitis, the Moroccan diplomat noted that his country annually welcomes 18,500 Kuwaiti tourists who represent 9.28% of its total Middle Eastern visitors.
Ibn Issa also referred to the “significant” number of the Moroccan community in Kuwait which is estimated at 7,000 nationals, stressing that they “are living in perfect harmony with their Kuwaiti brothers [and sisters].”
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