India and Morocco launch Chamber of Commerce and Industry
Posted on:01 Jun 2016 14:28:30
01 June 2016 Current Affairs: India and Morocco has launched the India-Morocco Chamber of Commerce and Industry (IMCCI) in Rabat, Morocco on 31 May 2016.
The chamber was jointly launched by visiting Vice President Hamid Ansari and Moroccan Prime Minister Abdelilah Benkirane.
The IMCCI was launched to accelerate the pace of economic development between the two nations.
Morocco has recently emerged as a favoured destination for investments by Indian firms that Indian companies have cumulatively invested more than 320 million US dollars in Morocco, including in the flagship project, the Indo-Maroc Phosphore SA joint venture.
Besides, India and Morocco have concluded five Memorandums of Understanding (MoUs) covering fields as diverse as water resources, television broadcasting, institutional cooperation and cultural and educational exchanges, further providing venues for enhanced cooperation.
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