Agriculture could help Morocco shrink trade deficit with China- McKinsey

Mckinsey said that agriculture stands as a promising sector for Morocco in order to bridge the gap in its trade deficit with China.

The US consulting firm said in a report on Chinese-African economic ties that out of the 2 billion dollars of Morocco’s agricultural exports in 2017, only 0.2% was sold to China.

The company underlined the enormous potential of Moroccan agricultural products in the Chinese market, stressing the need to adapt output to a rapidly growing Chinese market.

Morocco and China are bound by a strategic partnership since King Mohammed VI visited Beijing in 2016. Morocco is also part of the Road and Belt initiative.

Chinese companies are investing in Morocco’s promising industrial sectors including automotive and aerospace.

China Communications Construction Company (CCCC) and China Road and Bridge Corporation (CRBC) have also signed an agreement with Moroccan BMCE bank to build Mohammed VI Tangier Tech city, which will cost about 10 billion dollars.

The flagship project will offer jobs to 100,000 people and will house 300,000 inhabitants on a surface area of 2000 hectares.