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Friday 9 February 2018

Morocco-China 6th Joint Economic Cooperation Committee Convenes in Rabat

Vocal synthesis
Morocco-China 6th Joint Economic Cooperation Committee Convenes in Rabat

The 6th session of Morocco-China joint committee for economic cooperation was held on Thursday in Rabat with a view to discussing the means to develop cooperation between the two countries.

Co-chaired by minister of Industry, Investment, Trade and Digital Economy, Moulay Hafid Elalamy, and Chinese vice minister of commerce, Qian Keming, this session coincides with the 60th anniversary of the establishment of diplomatic relations between the two countries.

Speaking on this occasion, Elalamy said that relations between Morocco and China continue to develop, particularly following the visit of HM King Mohammed VI to China in May 2016, during which "a global and multidimensional strategic partnership was sealed, marking a historic turning point in the strengthening of bilateral cooperation.”

The signing, in November 2017, of the Memorandum of Understanding formalizing Rabat's accession to the Chinese initiative "One Belt One Road" will further consolidate bilateral cooperation by opening new prospects for the economic partnership between the two countries, he added.

For his part, Keming, who recalled that the 5th session of the joint economic cooperation committee was held in Beijing in 2001, stressed that today's meeting is an appropriate opportunity to develop Sino-Moroccan relations.

"We are impressed by the progress made by Morocco in all areas," he said, while praising the good relations between the two countries which led to the implementation of various investment projects in the automotive sector, textile, agro-industry, aeronautics and renewable energies.

China is Morocco's third largest trading partner with an overall trade volume of 39.5 billion Dirhams in 2016.

Morocco, China Eager to Foster Cooperation in Key Investment Sectors

Morocco and China are willing to benefit from the many investment opportunities and fully exploit the potential of their economies.

Convened, on Thursday in Rabat, on the occasion of the 6th Morocco-China trade, economic and technical cooperation joint committee, Minister of Industry, Investment, Trade and Digital Economy Moulay Hafid Elalamy and Deputy Minister of Commerce of the People's Republic of China Qian Keming, expressed the willingness of their countries to give a new impetus to the dynamic marking the Moroccan-Chinese relations and give concrete substance to the objectives of the strategic partnership between the two countries.

The Chinese side intends to encourage its industrial enterprises to invest in Morocco in the automotive, textile, electrical goods, aviation, agro-industry, mining and renewable energy sectors in order to increase their value added and spur the Kingdom's industrialization and economic growth.

"We discussed mainly the possibilities of cooperation in the areas of infrastructure, including the development of highways, roads, ports (...) and we also discussed the different possibilities for partnership on the many projects in the industrial zones," said Qian Keming, during this committee which coincides with the 60th anniversary of the establishment of diplomatic relations between China and Morocco.

"This meeting is an ideal opportunity to identify key and priority areas for our cooperation to boost our economic and commercial relation in a rapid manner," he insisted.

For his part, Elalamy welcomed the dynamic fostered by the growing interest shown by Chinese operators in the Kingdom where they undertake structuring projects in the areas of infrastructure, energy and industry as the "Cité Mohammed VI Tanger-Tech" project. 

The minister stressed that, however, the level of trade remains below the capacity of both countries, calling for fruitful bilateral cooperation in the field of trade by taking advantage of this new stage in the Moroccan-Chinese partnership.

-MAP-08/02/18