The General Confederation of Moroccan Industry (CGEM), an employers' association, and the Federation of Korean Industry (FKI) have set up a business council in Casablanca, Moroccan officials said Thursday.
The council's mission, according to Panafrican News Agency (PANA), is to encourage South Korean investments in Morocco and to develop trade between the two countries.
Twenty industrialists operating in the area of textile, pharmaceuticals, chemistry and construction have accompanied the Korean minister of foreign trade, Hwang Doo-Yun to Morocco, who has signed the memorandum of understanding was signed by the visiting Korean minister of foreign trade, Hwang Doo-Yun, and CGEM chairman, Hassan Chami.
Citing official figures for the last year, South Korean exports to Morocco has exceeded $89 million, as against $30 million worth of exports from Morocco to the peninsula – Albawaba.com
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