Morocco, USA pool efforts to promote investments in Africa

Morocco, USA pool efforts to promote investments in Africa

Morocco and the United States signed, on Tuesday in Rabat, two cooperation agreements to promote investments in Morocco and Africa.

The agreements were signed during the visit to Rabat of the high-level US-Israeli delegation that was led by Senior Advisor to the US president Jared Kushner and Israel’s National Security Adviser Meir Ben-Shabbat.

The first memorandum of understanding provides for a $3 billion financial and technical support to private investment projects, in Morocco and in the countries of sub-Saharan Africa, in coordination with Moroccan partners.

The memorandum of understanding between the Government of Morocco and the US International Development Finance Corporation (DFC), was signed by Mohamed Benchaaboun, Minister of Economy & Finance and DFC chief Adam Boehler.

The second agreement, signed by Junior Foreign Minister for African Cooperation, Mohcine Jazouli, and Adam Boehler, is a Letter of Intent between Morocco and the US Governments, represented by the US International Development Finance Corporation regarding the American “Prosper Africa” initiative.

Through this letter of intent, the Moroccan government expresses its support for the American Prosper Africa initiative. A branch of this agency will be opened at the US Embassy in Rabat to facilitate access to American investors and promote Moroccan-US joint cooperation towards Africa.

King Mohammed VI received, on Tuesday at the Royal Palace in Rabat, Jared Kushner, Meir Ben-Shabbat, as well as Special Assistant to the US President and Special Representative for International Negotiations Avrahm Joel Berkowitz, the Royal Office said in a statement.

During this audience, the three countries have signed a Joint Declaration announcing the opening of a new era in relations between the Kingdom of Morocco and the State of Israel.

The text refers to the historic statements issued on Dec. 10 during the phone call between King Mohammed VI and President Donald Trump, and by the Israeli Prime Minister Benjamin Netanyahu.

The Joint Declaration highlights the proclamation by the United States on recognizing the sovereignty of Morocco over the Sahara, stating that “the United States recognizes Moroccan sovereignty over the entire Western Sahara territory and reaffirms its support for Morocco’s serious, credible, and realistic autonomy proposal as the only basis for a just and lasting solution to the dispute over the Western Sahara territory.

To facilitate progress toward this aim, the three countries state that the United States “will encourage economic and social development with Morocco, including in the Western Sahara territory, and to that end will open a consulate in the Western Sahara territory, in Dakhla, to promote economic and business opportunities for the region.”

In the same declaration, the three countries recall that during the phone call, the King and the US President exchanged views on the current situation in the Middle East region and that the King reiterated the coherent, constant and unchanging position of Morocco on the Palestinian question, as well as the importance of preserving the special status of the sacred city of Jerusalem for the three monotheistic religions, the King being Chairman of the Al-Quds Committee.

The three countries also recognize the historic role that Morocco has always played in bringing the people of the region closer together and promoting peace and stability in the Middle East, as well as the special ties that the King maintains with the Moroccan Jewish community living in Morocco and throughout the world including in Israel, according to the Joint Declaration.

The three countries are mindful that the establishment of full diplomatic, peaceful and friendly relations is in the common interest of both countries and will advance the cause of peace in the region, improve regional security, and unlock new opportunities for the whole region, the Joint Declaration states.

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