Washington Examiner
By: The Associated Press | 11/24/11 4:31 PMThe Associated Press
Three oil rich countries of the Persian Gulf have set up a $2.5 billion sovereign investment fund to support Morocco’s tourism sector.
Qatar Emir Hamad Bin Khalifa al-Thani was in Morocco on Thursday, together with Emirati Crown Prince Mohammed bin Zayed al-Nahyan and Kuwaiti Foreign Minister Mustafa Jassem al-Shamali to sign the accord with Morocco’s king.
King Mohammed VI also signed a series of other bilateral economic cooperation accords with Qatar’s emir.
A major destination for European tourists seeking sun and sand, Morocco’s industry suffers from a lack of investment due to financial constraints in this North African monarchy.
The oil rich monarchies of the Gulf Cooperation Council have been publicly discussing ways of aiding fellow monarchies Jordan and Morocco.
