Middle East Online
Gulf Cooperation Council (GCC) investments in Morocco increased by 82 per cent in 2014 compared to 2013, the Moroccan Ministry of Finance said.
The ministry explained in a report yesterday that the GCC investments in Morocco amounted to 10.2 billion dirhams ($1 billion) in 2014 and accounted for 28 per cent of total foreign investment in the country.
GCC investments in Morocco reached 57 billion Moroccan dirhams ($5.9 billion) between 2006 and 2014.
According to the report, UAE investments accounted for 44 per cent of the GCC investments followed by Saudi Arabia with investments accounting for 38 per cent of the Arab alliance’s total investments.
The report explained that trade between Morocco and the GCC have been rising annually at a rate of 11 per cent to amount to 28.6 billion dirhams ($2.9 billion) last year or 4.9 per cent of Morocco’s gross exchange.
