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The investment charter framed by the Moroccan Government allows freedom to invest and transfer profits.

New Delhi , Dec. 7

THE Moroccan Prime Minister, Mr Driss Jettou, on Tuesday invited Indian businessmen to cash in on the comparative advantages offered by Morocco for setting up joint ventures in agriculture, fisheries, tourism and mineral resources.

Addressing the captains of Indian industry at a business session jointly organised by FICCI and CII here, he urged them to use Morocco as the gateway for trade with the EU, the US, the Mediterranean countries as well as Africa and the Arab world.

Mr Jettou sought Indian investment in areas like IT, tourism, industry and agriculture. The Prime Minister further said that his country was fast turning into a regional economic hub and with liberal investments, the time was ripe for Indian and Moroccan companies to join hands for broader and deeper commercial relations between the two nations.

The investment charter framed by the Moroccan Government allows freedom to invest and transfer profits.

It also allows for transferring the proceeds of conveyance without ceiling on the amount transferred and without any prior authorisation when the investment is made in foreign currency by foreign investors and Moroccan expatriates.

He also extended the Moroccan Government's commitment to provide "all facilities and support to economic and commercial initiatives" by Indian entrepreneurs and sought to take bilateral business cooperation to "levels that will mirror our excellent political ties that will serve as a role model for South-South cooperation."

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