The first Moroccan-Saudi investment forum is being staged along with the Kingdoms Forum set in the Moroccan city of Casablanca between June 4 and 6.

The investment forum, organized by the Saudi-Moroccan Business Council (SMBC), is part of the efforts to bolster bilateral ties by enhancing economic cooperation between Saudi Arabia and Morocco and within the framework of the recommendations of the 12th Saudi-Moroccan Joint Commission held in Jeddah in August 2013, an SMBC official said on Saturday.

The forum is expected to enjoy wide participation from Saudi and Moroccan investors, as well as government officials .

The forum assumes significance as Tawfiq Al-Rabiah, minister of commerce and industry and the chairman of the board of directors, SED, will sign a memorandum of understanding (MoU) with his Moroccan counterpart Hafiz Al-Alami in the fields of industry and trade between the two kingdoms on Wednesday, the opening day of the forum.

As per the figures available, the total volume of trade between the two countries is roughly estimated at SR13 billion, with the balance of trade in favor of Saudi Arabia.