The advantages that make Morocco an essential hub for foreign investment in Africa were highlighted during the Forum on China-Africa Cooperation (FOCAC) Summit, held from September 4 to 6 in Beijing.
In fact, the Conference of Chinese and African Business Leaders, organized as part of this Summit, provided a valuable opportunity for a strong delegation from the General Confederation of Moroccan Enterprises (CGEM) to showcase the measures and initiatives Morocco has undertaken to create a business-friendly and investment-conducive environment.
It also aimed to shed light on the Kingdom's economic openness, its infrastructure meeting the highest international standards, and its commitment to co-development in Africa through win-win partnerships.
This conference, held in the presence of the Head of Government, Aziz Akhannouch, representing King Mohammed VI at the Summit, was "very important" for economic relations between Morocco and China, noted Mohcine Jazouli, the Minister Delegate to the Head of Government in charge of Investment, Convergence, and the Evaluation of Public Policies.
To strengthen economic relations between Morocco and China, several meetings were held with various Chinese operators "who are moving into sectors that we are looking to develop in Morocco, such as the automotive industry, electric mobility, energy, and textiles," Mr. Jazouli told the press.
He also highlighted that the significant Moroccan delegation participating in this key event reflects the strong relations between Morocco and China, following His Majesty King Mohammed VI's visit to the People's Republic of China in May 2016, which culminated in the signing of the bilateral strategic partnership.
For his part, CGEM President Chakib Alj said that the participation of the Moroccan business delegation in this event aims to inform Chinese companies looking to establish themselves in Morocco about the vast potential of the Moroccan economy.
"Morocco offers very significant advantages, including free trade agreements with more than 60 countries, a skilled workforce, proximity to Europe and other major consumer markets, as well as social and economic stability," noted Mr. Alj, adding that all these factors make Morocco "a highly attractive country" for foreign investment.
"The visionary leadership of His Majesty King Mohammed VI has allowed us to have a gateway to Africa, where Moroccan companies have invested heavily" in several key economic sectors.
The Moroccan delegation at this Summit also included the Minister of Foreign Affairs, African Cooperation, and Moroccans Living Abroad, Nasser Bourita, the Ambassador and Director-General of the Moroccan Agency for International Cooperation (AMCI), Mohamed Methqal, and Morocco’s Ambassador to Beijing, Abdelkader El Ansari.
FOCAC, celebrating its 24th anniversary this year, represents a key partnership between China and the African continent, based on the core principles of solidarity, cooperation, and respect for the sovereignty and territorial integrity of states.
Established in October 2000 in Beijing, FOCAC is China’s oldest regional forum. The mechanism gained significance in 2006 when Beijing announced the creation of a $5 billion China-Africa development fund.
