The Brazilian Senate unanimously approved a legislative decree yesterday regarding an investment deal with Morocco to enhance cooperation and investment opportunities between the two nations. The decree, signed in BrasÃlia in June 2019 during Morocco’s Foreign Minister Nasser Bourita’s visit, aims to strengthen bilateral ties and create a framework for investment. The agreement covers various crucial areas such as technical and environmental guidelines for investors, mechanisms for dialogue, and resolution of disputes. The endorsement by the Senate signifies a significant step towards advancing the development of both Brazil and Morocco through increased investments and improved relations.
Senator Margareth Buzetti from the Social Democratic Party of Mato Grosso highlighted the importance of the decree in fostering bilateral relations and promoting investments between Brazil and Morocco. The agreement addresses key issues including expropriation, compensation, and corporate social responsibility, while also focusing on governance and private-sector interactions. Minister Bourita’s visit also led to the signing of seven additional agreements in different sectors like defense, judicial cooperation, and transport. The Moroccan Ambassador to Brazil, Nabil Adghoghi, emphasized the strategic potential of the Morocco-Brazil partnership in various areas including food security, the green economy, and transport connectivity initiatives. The recent developments between the two nations reflect a commitment to strengthening ties and exploring new opportunities for mutual growth and advancement.
