Moroccan CGEM, Chinese CCPIT sign MoU to strengthen economic & trade ties

Moroccan CGEM, Chinese CCPIT sign MoU to strengthen economic & trade ties

The General Confederation of Moroccan Enterprises (CGEM) and the China Council for the Promotion of International Trade (CCPIT) signed Monday, through videoconference, a memorandum of understanding (MoU) to strengthen economic and trade relations between Morocco and China, particularly in the context of the Covid-19 pandemic.

Under this agreement, initialed by CGEM president Chakib Alj, and CCPIT president Gao Yan, the two parties will help Moroccan and Chinese private sectors identify business opportunities and foster investment and co-investment.

This new partnership, launched at the initiative of the Morocco-China Business Council, also aims to promote the establishment of Moroccan companies in China and Chinese companies in Morocco, particularly those operating in the industrial and digital sectors.

It also provides for establishing and strengthening mechanisms for information sharing, particularly on the two countries’ economic and trade policies, and laws and regulations.

Speaking on this occasion, Alj underlined the need, in order to further strengthen Moroccan-Chinese cooperation, to remove barriers and identify new opportunities to ensure a better presence of Chinese companies in Morocco and Moroccan companies in China.

“This agreement will certainly help our private sectors to focus on areas of cooperation that we are not taking advantage of and to identify opportunities for co-investment,” Alj said.

Gao Yan who welcomed the excellent relations existing between China and Morocco, on her part said she is confident that through the signing of this MoU the two sides will further strengthen their partnership for the benefit of the two countries and business communities.

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