Entreprenuers from Nigeria and Morocco have signed an agreement to boost economic ties between the two nations.

The pact to establish a Nigeria-Morocco Business Council was signed in Rabat, Morocco, according to Yusuf Hamisu Abubakar, who chaired the Nigerian delegation.

He said the agreement is expected to explore and break new grounds for business opportunities in the two countries.

Abubakar said the partnership would create better economy and closer relationship between Nigeria (the largest economy in Africa) and Morocco (highest Francophone investor after France).

He said: “Both countries have had a long standing cultural, religious and commercial links to leverage on, formalise and expand.

“We came together with the council to determine the modalities of harnessing business areas beneficial to the stakeholders.

“The leaders of our two countries, President Muhammadu Buhari and his Majesty King Mohammed IV have laid out the vision and establish the framework for businesses to cooperate through partnerships and collaboration by leveraging on the comparative advantages of both countries for the benefit of our two countries and Africa in general.”

He said at the moment, Nigeria and Morocco have 21 bilateral agreements signed by their leaders in different areas of business interests that need private sector participation for better result.

“We as business leaders, it’s our responsibility to make sure that we come to the realisation of those objectives because it’s through businesses that we can achieve their aspirations, and that is why we are forming the Nigeria/Morocco business council,” he added.

He said members of the delegation from the Nigerian are “very committed people with diverse business interests that will ensure deeper relationship and partnership between all investors.”

Abubakar also claimed that both Nigeria and Morocco are signatories to African Continental Free Trade Zone (AfCFTA) agreement, which the council plans to key into.

The Chairman of the Rabat Chamber of Commerce, Abbad Abdullah, said the Council came at the right time to support the high-level of talks and agreements between the leaders of the two countries.

“Also, signing the convention has strengthened the cooperative mechanism between the two countries.”

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