The third Meeting of Investors from Gulf countries in Morocco (Gulfinvest), which ended on Tuesday, 7 May, kept its promises by giving pride of place to priority subjects in relation to the strategic theme chosen for this edition. The Morocco-Gulf countries strategic partnership, the business climate in Morocco, the potential and economic assets of the Tanger-Tétouan region, and the prospects for cooperation in different sectors were at the heart of the debates scheduled during this two-day event, in which more than 400 businessmen participated, 150 of whom are from Gulf countries. Speaking during the closing session of Gulfinvest, the Minister of Industry, Trade, and New Technologies, Abdelkader Aâmara, stressed the importance of this meeting while congratulating the organisers for having chosen to hold its proceedings in Tangier, considered the second economic hub of the Kingdom and which is full of significant investment opportunities. "Foreign direct investment (FDI) in Morocco totals approximately 30 billion DH, nearly a third of which comes from Gulf countries," he states.

The minister highlights the importance of FDI from Saudi, Kuwaiti, and Emirati origins compared to other Gulf investors in the Kingdom. "We project that, thanks to this type of meeting, this will extend to other brotherly countries such as Qatar and the Sultanate of Oman," adds Mr. Aâmara.

For his part, the president of the Union of Chambers of Commerce of the Gulf countries, Khalil Ben Abdallah Al-Khounji, highlighted the similarities between the Kingdom of Morocco and the Gulf States regarding regulations and facilities granted to investment, while stressing the mutual desire to strengthen their economic relations. "As mentioned yesterday, the Gulf countries plan to invest 100 billion dollars in Morocco over the next ten years," recalling that the volume of Gulf investments has remained modest due to the global crisis and the instability experienced by some Arab countries.

The programming of this closing day included three workshops, including the one devoted to cooperation in agriculture and the food sector, where the project for the common food security fund of 100 million dollars was announced, which will be carried out by Morocco and the Gulf Cooperation Council (GCC) countries.

It should be noted that the work of this third meeting ended with the reading of the recommendations formulated in the "Tangier Declaration". The participants agreed on the establishment of a follow-up committee composed of Moroccan and Gulf businessmen. Through this declaration, they call on investors from both sides to register their actions within the framework of the Morocco-Gulf countries strategic partnership. The creation of a forum bringing together Moroccan businesswomen and their Gulf counterparts is among the most important recommendations of the Tangier Declaration.