Portuguese Prime Minister Pedro Passos Coelho has announced the creation of an “Observatory for Investment” between Portugal and Morocco aimed at deepening the two countries commercial and economic relations, Xinhua reported. The announcement followed the 12th Portuguese-Moroccan summit at the Palacio das Necessidades in Lisbon, which Moroccan Prime Minister Abdelilah Benkirane attended. During the press conference, Passos Coelho highlighted that commercial exchanges between Portugal and Morocco had risen and said Portugal’s exports to Morocco could reach around 1 billion euros (about $1.08b). The Portuguese prime minister highlighted that Morocco was Portugal’s second biggest destination for Portuguese exports in Africa, after Angola. Both prime ministers signed several agreements on Monday after the summit meeting, including an internal security agreement, a tourism agreement, and an agreement for the creation of the Observatory of Investment.
