Africa, as well as Morocco, has long been looking for business partners who are interested in exploiting the resources offered by the continent. The continent and the countries that make it up have been interested in the investors that China can offer, so many companies are already reaching agreements to attract businesses from the Asian country to invest in the territory. Bank of Africa and AMDIE - Moroccan Agency for the Development of Investment and Exports - are among the organisations that have joined forces to encourage Chinese investment.
The two entities have signed a cooperation agreement that aims to introduce both the Kingdom and Africa to the opportunities offered by China in economic matters, with the aim of bringing benefits. The agreement was signed in Casablanca by Khalid Nasr, director general of the financial institution, and Youssef El Bari, director general of the agency. Also present at the agreement was BOA Shanghai, a company specialising in the development of Chinese investments. According to the African bank in a statement, this company is also present "in the capacity of defining business relations between Moroccan and Chinese operators in general".
It also states that Morocco is a destination that is a major attraction for Chinese companies, which are interested in investing in the nation itself. The bank's statement asserts that the Kingdom's competitive offerings, plus all the capacity it can accommodate, is a great opportunity for any business in the world that wants to start opening the door to the entire continent.
Both Bank of Africa and AMDIE will work together to start attracting more investors and businesses to set up in the Alawi country, which will be the beginning from which they will then start to enter Africa. It is intended to implement this agreement through the regular exchange of information on projects and opportunities that are being carried out and that are all coming from China.
The African bank, for its part, has the advantage of having branches of its business in Shanghai, so it can easily learn about collaborations between China and African countries in the development of new investment projects.
For their part, the two organisations will create a special committee, whose sole objective will be to be able to determine the strategic orientations of this partnership, according to MAP News, Morocco's official news agency. They will also have to participate in and meet the objectives that seek to attract any kind of action from the Asian nation.
Bank Of Africa will thus confirm its support for projects with international capacity and dimension, while reaffirming its position that it is able to provide particular support to Chinese businesses in Africa. It also offers its expertise to provide resources to partners interested in setting up projects. AMDIE, for its part, will benefit from a reinforcement of its mechanism to be able to attract Chinese investors and accompany them in the realisation of their project.
Relations between China and Morocco have been improving recently. The two countries are focusing their efforts on the creation of mutually beneficial projects. Li Changlin, Chinese ambassador to the Kingdom, added after his delegation's visit to the country that "Sino-Moroccan cooperation is working well. The strategic partnership between the two countries has been enriched with new content.
For some months now, these relations have been profitable and profitable. Large Chinese companies have begun to set up on Moroccan soil, visits by various delegations, negotiations to select Asian brands to build and carry out projects such as the construction of a regasification unit or even the production of the Chinese vaccine Sinopharm on Alawi soil, among others. All of these ideas are a testament to the good relations between the two nations, and it seems that they will continue to be in contact to create more joint plans.