Morocco and China have signed a memorandum of understanding (MoU) to strengthen trade relations.
The General Confederation of Moroccan Enterprises (CGEM) and the Chinese Council for the Development of International Trade (CCPIT) signed the agreement on Monday during a videoconference. The new agreement aims to strengthen bilateral relations particularly in the context of the Covid-19 pandemic.
The president of the CGEM, Chakib Laalj, and the president of the CCPIT, Gao Yan hosted the virtual event.
The two parties aim to accompany the Moroccan and Chinese private sectors in identifying business opportunities and the promotion of investment and co-investment.
The partnership purposes to encourage the development of Moroccan companies in China and Chinese companies in Morocco, particularly those in the industrial and digital sectors.
The initiative also aspires to advance the exchange of information between the two countries on national economic and trade trends, laws and regulations, industrial standards, as well as market analysis reports and investment projects.