The Government of the Kingdom of Morocco and the Government of the Republic of El Salvador (hereinafter referred to as the "Parties"),

Desiring to intensify economic cooperation to the mutual benefit of both Parties,

Intending to create and maintain favorable conditions for capital investments of investors of one Party in the territory of the other Party, and

Conscious that the promotion and reciprocal protection of such investments stimulate business initiatives and increase the welfare of both Parties,

Have agreed as follows: