Morocco and China signed an agreement on Wednesday aimed at facilitating Chinese financing of a number of commercial and economic projects in Morocco as part of the Chinese “Belt and Road” project, which aims to access new markets, achieve sustainable economic growth and ensure social stability.
The agreement was signed by the Moroccan Foreign Minister Nasser Bourita and the Chinese Vice-President of the Commission for Development and Reform Ning Jie Zhe, using video communication technology.
The agreement aims, according to a statement by the Moroccan Foreign Ministry, to “improve access to Chinese funding provided by the Belt and Road Initiative, to carry out major projects in Morocco or facilitate trade, and establish joint projects in various fields such as industrial parks and energy, including renewable energy “.
The statement added that this agreement also covers cooperation in the fields of research, development, technology, energy, agriculture, technological and technical cooperation and vocational training.
Under this agreement, China undertakes to “encourage major Chinese companies to locate or invest within Moroccan territory, in sectors such as the automotive industry, aviation, technology, e-commerce, agro-industry and textiles “.
Morocco was among the signatories of the “Chinese Belt and Road” initiative launched by the Chinese president in 2013, and includes 140 countries.
Morocco is China’s second largest trading partner in Africa, with trade of nearly $ 4 billion in recent years.
Despite the impact of the Corona pandemic, trade with China increased by 2.7% in 2020, according to statistics from the Moroccan exchange office.
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