Written by 10:09 am Economy

Morocco, China Seek Enhanced Trade Relations with Strategic Talks in Rabat

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Morocco’s Trade Minister Ryad Mezzour on Friday engaged in discussions with his Chinese counterpart Wang Wentao, focusing on enhancing commercial ties. The meeting underscored the strategic importance both nations place on their bilateral collaboration, aiming to consolidate and promote economic links between Morocco and China.

Minister Mezzour highlighted the dynamic and fruitful cooperation between the two countries, citing the launch of numerous multi-sectoral projects, particularly in the realms of industry and infrastructure. He emphasized that bilateral trade has surged by over 50%, making China the Kingdom’s third-largest trading partner and its primary partner in Asia, with a total trade volume of $7.6 billion in 2022.

Chinese investments in Morocco exceeded $56 million in 2022, primarily concentrated in industry, major works, transportation, real estate, energy, and mining, with the industrial sector accounting for 52%. Minister Mezzour called for future actions to be innovative, coordinated, efficient, and impactful, translating the strategic objectives agreed upon in the bilateral partnership of 2016 into tangible results.

The Minister also pointed to significant opportunities for synergy between the two economies, citing the potential of the African Continental Free Trade Area as a means to develop Moroccan and Chinese exports into new and promising African markets.

In response, Minister Wang emphasized the complementary development advantages of Morocco and China, stating that Morocco has become a preferred destination for Chinese companies. He expressed confidence that these enterprises could bring significant added value to Morocco’s economic development by adhering to local regulations and leveraging their technological strengths.

Wang reiterated his commitment to promoting cooperation between the two nations, emphasizing mutual opportunities for economic and commercial development. He underscored the pivotal role Morocco plays in driving the growth of Chinese enterprises.

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