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Chinese Press Agency: Morocco Is China’s Best Hope in Africa

'Morocco-China Silk Road Council' to Boost Sino-Moroccan Relations

Rabat – For China, Morocco is not only “a natural bridge and an appropriate platform for the intensification of investment and trade relations between China and Africa,” stated the Chinese press agency Xinhua.

It is also a “preferential access” to the markets of 55 countries (1.2 billion consumers), with which Morocco has concluded free trade agreements (including the EU, the US and the Arab countries), it added.

As the main trading partner of nine Arab countries, China is collaborating with these countries on developing emerging sectors such as finance, aerospace and new energies.

A rapprochement with Morocco opens China to markets in French-speaking Africa where it is not yet well-introduced, unlike the Kingdom which controls a significant part of West and Central African banks, insurance, and telecoms.

These are all reasons why the Central Bank of China recently concluded a dirham-yuan exchange agreement of MAD 15 billion, why the Chinese group Haite, Morocco-China International and BMCE Bank of Africa have launched a fund of Sino-Moroccan investment of a target size of $ 1 billion, and why Huawei had set up its new headquarters for the francophone Africa region in Casablanca, adds Xinhua.

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