Athens , 11 March 2010

Deputy Foreign Minister Spyros Kouvelis met today, 11 March 2010, with the Moroccan Secretary of State for Foreign Affairs and Cooperation, Ms. Latifa Akharbach.

During their working luncheon, Mr. Kouvelis and Ms. Akharbach discussed matters of bilateral interest, with particular emphasis on economic cooperation between the two countries.

The main sectors of interest were the following:

·       Cooperation in the energy sector, with emphasis on renewable energy sources, regarding which the Moroccan side referred to the progress and achievements it has made – particularly in the solar energy sector – and its desire to collaborate with Greece, which has significant know-how in the renewable energy sector. Moreover, the Moroccan side noted its will to deregulate energy production, a development that would be of interest to Greek enterprises active in this sector.

·       The Moroccan side also mentioned the major opportunities that exist for Greek investors in Morocco, particularly participation in programmes for the creation and operation of major infrastructure projects (road networks, ports, etc.). Special mention was made of the container terminal of the Port of Tangier, the potential of which can be utilized by Greek shipping companies, investors and merchants. Corresponding mention was made of the modernization of Piraeus Port and the potential it offers for the development of synergies.

Morocco’s proximity to Europe, the fact that it is a gateway to western Africa, its relations with the EU, and the participation of both Morocco and Greece in the “Union for the Mediterranean” initiative all potentially create opportunities for Greek entrepreneurship.

Both sides stressed the importance of direct air and coastal shipping links between the two countries, as well as the development of cooperation on tourism and culture.

Within the above framework, the Moroccan Secretary of State invited Deputy Foreign Minister Kouvelis to visit Morocco, accompanied by a delegation of Greek businesspersons.

·       The two sides also stressed the importance of there being an extensive bilateral contractual framework and of an intensive effort to complete this framework (The bilateral agreement on the avoidance of double taxation was ratified recently, and it is hoped that procedures will be completed for an agreement on shipping, an agreement on cooperation between customs authorities, and a memorandum on industrial cooperation.). Finally, procedures are under way to activate a bilateral business council.