The agreement constitutes a basis to strengthen business and investment opportunities in various areas and consolidate the partnership between Rabat and Lisbon.

For an amount of 1 billion dirhams, Morocco and the Portuguese group specialized in the textile sector, Valerius Texteis, signed an agreement on Friday in Lisbon.

This agreement was signed on the sidelines of the Portugal-Morocco High Level Meeting and aims to strengthen and sustainably develop the Moroccan textile sector.

The forum was initiated by the General Confederation of Moroccan Companies (CGEM), the Portuguese Business Confederation (CIP), the Portuguese Investment and Foreign Trade Agency (AICEP) and the Moroccan Investment and Export Development Agency (AMDIE).

The Portugal-Morocco Economic Forum constitutes a basis to strengthen business and investment opportunities in various areas and consolidate the association between entrepreneurs from both countries.

Valerius Texteis, which already operates in Morocco, is launching a new textile recycling project that will create 1,500 jobs.

This Economic Forum is an opportunity to debate the levers that must be activated to further strengthen economic and commercial cooperation between both countries.

It also aims to identify new opportunities for cooperation and create innovative and sustainable partnerships between Moroccan and Portuguese companies in key sectors such as industry, renewable energy and the digital sector.

This joint partnership between Morocco and Portugal is not the first of its kind, as the two countries had already signed an agreement in 2021 to boost economic cooperation by establishing a joint Economic Council in Casablanca.

The agreement aimed to foster economic partnership and collaboration between Portugal and Morocco, in order to create mutually beneficial trade and investment opportunities.

Source: MoroccoWorldNews