Deal with Morocco on avoidance of double taxation

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.

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

The Moroccan Foreign Minister discussed the possibility of technical assistance and cooperation in phosphate fertiliser industry in Bangladesh including the production of customised and cost-effective phosphate fertiliser 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 per cent of the phosphate reserves of the world and is ranked third in the world in its production.

After signing the agreements, the two Foreign Ministers spoke at a joint press conference. Moroccan Foreign Minister hosted a lunch in honor of Foreign Minister Ali and his delegation, reports UNB.

The Moroccan Prime Minister praised Bangladesh for its constructive and proactive roles in consolidating Muslim Ummah under the auspices of OIC.

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