Prince Moulay Rachid calls for greater economic relations with Bulgaria

14 juillet 2006

Rabat July 10, 2006 - HRH Prince Moulay Rachid, the heir second in line of succession to the throne, received here on Monday, Bulgarian Interior Minister, Rumen Petkov. On this occasion, His Royal Highness stressed the importance to further promote strategic partnership at all levels in various fields between Morocco and Bulgaria.

Relations between the two countries should see a bigger development, especially in the areas of economy and construction, the Prince said. Prince Moulay Rachid, who last year also hosted then Bulgarian Prime Minister Simeon Sakskoburggotski, explain that partnership between municipalities from both sides should be strengthened.

Morocco imports from Bulgaria natural and chemical fertilizers, wheat, copper and equipment used in food industry, while exports, mainly phosphates and lead. In 1996, Morocco signed a tax agreement with Bulgaria concerning the avoidance of double taxation. Under the agreement, individuals and companies of the two countries will not be liable to double taxes on income and wealth.

His Royal Highness Prince Moulay Rachid also expressed support for Bulgaria's effort to attain full EU membership on 1 January 2007.