Rabat- Morocco's recent decision to shift focus towards China does not seem to please the kingdom's economic partners in the West.
Rabat- Morocco’s recent decision to shift focus towards China does not seem to please the kingdom’s economic partners in the West.
According to Akhbar Al Yaoum newspaper in its November 28th issue, the Americans have expressed their serious fears that Morocco’s new trend to maintain its economic partnership with the Chinese will have a negative impact on their interests and investments in the country.
The newspaper added that during the consultations that preceded the launching of the Industrial Acceleration Plan, Moulay Hafid Elalamy, Minister of Industry, Investment and Digital economy has presented assurances that eased the concerns of the Americans.
Moulay Hafid Elalamy said that promoting ties with China was not a governmental choice, but a royal one, adding that the Moroccan monarch regards the partnership with China as strategically important to the kingdom.
Asked by Akhbar Al Yaoum, economic analyst Nuh El Harmouzi said that the economic rapprochement with the Chinese could help Morocco get rid of its economic dependence on countries such as France and Spain.
The Moroccan king was to go on an official visit to China for the second time since 2002 but the visit was postponed at the last minute due to health reasons.
The Industrial Acceleration Plan is spanning the period 2014-2020 and aims to create half a million jobs by 2020. It also aims to increase the contribution of the industrial sector to Morocco’s GDP from 14% to 23%.
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