Home / Banking / Morocco-Africa-China: Advocacy to strengthen triangular partnership

Morocco-Africa-China: Advocacy to strengthen triangular partnership

Moroccan and Chinese ministers, bankers, diplomats and businessmen, who participated in a conference on the theme “Frontier of China Africa Investments” on Monday in Casablanca, called for embodying the ambitions of strengthened economic partnerships between China, Morocco and Africa.

“It is essential to go beyond the logic of counters to develop the concept of China-Morocco co-production. Indeed, with our mutual strengths, we can go beyond, for example by focusing on research and development as well as technology transfer to anchor our relations in a virtuous circle creating wealth”, said the Minister Delegate for African Cooperation, Mohcine Jazouli.

“If we succeed this bet, we can set up a strong China-Morocco couple. We can meet the imperative of shared, inclusive and collective growth as part of a co-development for the benefit of the African continent”, he added.

Last September, he said, 53 African countries met in Beijing for the 3rd China-Africa Cooperation Summit (FOCAC), which dedicated economic cooperation between China and Africa through in place of a fund for the continent of $ 60 Billion, he notes.

Along the same lines, Industry Minister Moulay Hafid Elalamy stressed that the Sino-African partnership is “a model of cooperation in full construction”.

“Africa is the most promising region today, with higher economic performance than world economies”, he notes.

In 2018, among the 10 countries with the highest growth, six are African, he adds, recalling that the continent will have by 2050 a population of more than 2.2 Billion people, nearly 32% under the age of 14.

The minister also says that China is Africa’s largest infrastructure financier, and Chinese investment is the fastest growing among 10,000 companies hiring mostly African employees.

According to Elalamy, China is Africa’s largest trading partner with more than $ 100 Billion in trade in 2017. It is also one of the largest investors in this continent.

For his part, Othman Benjelloun, president of BMCE Bank of Africa, noted that on the 60th anniversary of the establishment of diplomatic relations between China and Morocco, this meeting contributes to the consolidation, in its economic and financial dimensions of business, the “strategic partnership” sealed in 2016 between the two heads of state, King Mohammed VI and President Xi Jinping.

“The journey that will take you from Casablanca to Tangier, then from Rabat to Kenitra, will allow you to understand that Morocco is the ideal platform for companies wishing to invest in a continent full of promise, in this case Africa, and from this country full of potentials”, he continues.

Considering BMCE Bank Of Africa “as your privileged partner in Morocco and Africa”, he adds, “you will make the choice of an institution that invariably professes its sinophilic creed”.

And Benjelloun to recall, in this sense, that his bank has created a branch in Shanghai to “play a key role in deepening Sino-Moroccan trade and Chinese investments in Africa, and we also hope African investments in China”.

The meeting, attended by some 50 Chinese entrepreneurs representing various sectors of economic activity, was organized by the Moroccan Agency for Investment and Export Development, BMCE Bank of Africa and the Federation of Chinese Entrepreneurs in African countries (SIEF).

Check Also

Michelin sets up its first sales agency in Morocco

Michelin, the world leader in tires and mobility, announced in a press release the establishment …

Leave a Reply