BD, Morocco sign deal on avoidance of double taxation

FT ONLINE

Bangladesh and Morocco have signed an agreement on avoidance of double taxation and a protocol on Foreign Office Consultations.

The two instruments were signed by Foreign Minister Abul Hassan Mahmood Ali and his Moroccan counterpart Nasser Bourita at the Ministry of Foreign Affairs in Rabat on Wednesday.

The signing ceremony followed a bilateral meeting between the two foreign ministers where they discussed the whole range of bilateral issues between the two countries.

During the meeting, both sides agreed to strengthen bilateral cooperation in the areas of economic development, trade and investment, agriculture and tourism cooperation.

Foreign Minister Ali also thanked the Moroccan government for their support and cooperation to Bangladesh on the recent Rohingya crisis.

Both sides stressed on holding regular Foreign Office consultations and high-level visits with a view to further strengthening the existing bilateral relations.

Besides, they also discussed regional and international issues of mutual interest and pledged to support each other at the UN and other international fora.

Moroccan Foreign Minister Nasser Bourita discussed the possibility of technical assistance and cooperation in phosphate fertilizer industry in Bangladesh, including the production of customized and cost-effective phosphate fertilizer suitable for different types of soil.

At his invitation, the Bangladesh delegation visited OCP Group office, a global market leader of phosphate and its derivatives and a key player in the international phosphate market since 1920.

Morocco holds 75% of the phosphate reserves of the world and is ranked third in the world in its production. After signing the agreements, the two ministers spoke at a joint press conference.

The Moroccan foreign minister hosted a lunch in honour of Foreign Minister Ali and his delegation.

Foreign Minister Mahmood Ali also called on the Prime Minister of Morocco Dr Saad Eddine El Otmani at latter’s office in the afternoon.

He conveyed greetings of President Abdul Hamid and Prime Minister Sheikh Hasina to his majesty the King of Morocco through the Moroccan prime minister.

The Moroccan prime minister praised Bangladesh for its constructive and proactive roles in consolidating Muslim Ummah under the auspices of Organisation of Islamic Cooperation (OIC).

He also applauded the remarkable progress made by Bangladesh in all economic and social indicators under the visionary and progressive leadership of Prime Minister Sheikh Hasina.

Bangladesh Ambassador to Morocco Sultana Laila Hossain and senior government officials were present during the meetings.