Following an agreement to boost economic cooperation, a Nigeria-Morocco Business Council has been established.
The agreement was signed by entrepreneurs from Nigeria and their Moroccan counterparts in Rabat, Morocco
The Chairman of the Nigerian delegation, Yusuf Hamisu Abubakar said the agreement, which was signed and adopted by both sides, is expected to explore and break new grounds for business opportunities in the two countries.
He said the partnership would create better economy and closer relationship between Nigeria (the largest economy in Africa) and Morocco (highest Francophone investor after France).
He said “both countries have had a long standing cultural, religious and commercial links to leverage on, formalise and expanded.
He said: “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 establish 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 at the moment, Nigeria and Morocco have 21 bilateral agreements signed by their leaders in different areas of business interests that need private sector participation for better result.
“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 added.
He said members of the delegation from the Nigerian are “very committed people with diverse business interests that will ensure deeper relationship and partnership between all investors.”
Abubakar also claimed that both Nigeria and Morocco are signatories to African Continental Free Trade Zone (AfCFT) which the council is equally ready to turn into its full advantage.
The Chairman of Rabat chamber of commerce, Abbad Abdullah, said the Council came at the right time to support the high-level of talks and agreements between the leaders of the two countries.
“Also, signing the convention has strengthened the cooperative mechanism between the two countries,” he said.