Home Economy Morocco and China Eye Mutual Trade Partnership Under ‘Belt Road’ Memorandum

Morocco and China Eye Mutual Trade Partnership Under ‘Belt Road’ Memorandum

Morocco and China Eye Mutual Trade Partnership Under ‘Belt Road’ Memorandum

Rabat – Morocco and China signed a Memorandum of Understanding (MoU) on China’s “Belt and Road Initiative” on Thursday in Beijing, reviving the ancient “Silk Road on Land and Sea,” by setting up a trade and infrastructure network linking Asia to Europe and Africa.

The memorandum was signed by Chinese Foreign Minister Wang Yi and his Moroccan counterpart Nasser Bourita, who is on a two-day working visit to China.

Inspired by the mythical “Silk Road”, the initiative comprises the Silk Road Economic Belt and the 21st Century Maritime Silk Road. It was proposed by China in 2013 as a means of building a trade, investment, and infrastructure network connecting Asia with Europe and Africa along the ancient trade routes.

Bourita said that Morocco is prepared to cooperate more with China on trade, investment, and railway construction.

Morocco welcomes Chinese companies to expand markets in Africa and the Arab world by making use of the kingdom’s country’s geographical advantages, added Bourita.

The Moroccan minister said that Morocco supports China’s sovereignty, territorial integrity, and legitimate maritime interests.

Morocco is the first African country to join the “Belt and Road” initiative. In a speech to the Summit of the Forum on Sino-African Cooperation in December 2015, King Mohammed VI welcomed the Chinese president’s launch of the initiative.

Wang encouraged the two countries to implement the consensus reached by their leaders to promote bilateral strategic partnership.

China treasures Morocco’s “firm support of China’s core interests and major concerns,” said Wang, affirming that the East Asian country “will always support Morocco’s efforts to maintain national unity, stability and development.”

On the basis of the MoU, China will cooperate more with Morocco on trade, investment, military and security, culture, education, and tourism.

Other areas of corporation will also include major international and regional issues and joint action safeguard common interests of developing countries.

Through the Belt and Road MoU, Morocco will offers a number of assets to contribute to the enrichment of the initiative.

As the next year will mark the 60th anniversary of bilateral ties, the kingdom has been celebrating its history of exchange and cooperation with the countries along the old Silk Road.

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