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Nigeria, Morocco entrepreneurs set up business council to boost economic cooperation

Oluwasina Phillip

In a bid to boost economic cooperation, a Nigeria-Morocco business council has been established by entrepreneurs from Nigeria and their Moroccan counterparts.

The Chairman of the Nigerian delegation, Yusuf Abubakar, said the agreement, which was signed and adopted by both sides, was expected to explore and break new grounds for business opportunities in the two countries, according to a statement issued by the council on Sunday.

He said the partnership would create a better economy and closer relationship between Nigeria, which was the largest economy in Africa, and Morocco, the highest Francophone investor after France.

Abubakar said, “Both countries have had long standing cultural, religious and commercial links to leverage on, formalise and expand. 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 established the framework for businesses to cooperate through partnerships and collaboration by leveraging on the comparative advantages of both countries for their benefit and Africa in general.”

According to him, 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 results.

Abubakar also noted that both Nigeria and Morocco were signatories to African Continental Free Trade Zone which the council was 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

“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.

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