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China-Africa Trade Information Service
http://info.afrindex.com
China-Africa Trade Information Service
Image from Moroccoworldnews
Morocco and China have expressed determination to explore strategic textile partnerships amid growing investment interests.
Morocco’s Minister Delegate for Investment, Mohcine Jazouli, met on Thursday with a delegation from the China National Textile and Apparel Council.
The meeting, which brought together over 20 business leaders, sought to explore cooperation opportunities between the countries in the textile sector.
It also served as a platform to present the two countries’ industrial opportunities, with the Moroccan representatives providing the delegation with an overview of its industrial sector and potential.
The North African country has been attracting investors and investments from different regions and continents.
A member of the African Continental Free Trade Area, Morocco positions itself as one of the attractive industrial destinations and serves as a gateway for investors seeking to access the African continent.Many Chinese companies, active in the textile sector are already operating in Morocco.
According to SNRTNews, several Chinese companies set up their businesses in Morocco this year — investing MAD 300 million ($30 million).
These companies are also boosting employment in Morocco, seeking to recruit nearly 2,000 people by 2025. Earlier this month, Chinese textile giant Sunrise announced its plan to invest $422.2 million in Morocco.
The company's president Lei Xu announced the company’s plan during a meeting with Head of Government Aziz Akhannouch.
In the meeting, Akhannouch expressed support for the investment project, which is projected to create 11,000 direct jobs within three years across several provinces and regions in Morocco.
Morocco’s government has frequently emphasized the importance of the sector, as well as the need to put it as a priority within the country’s investment strategy.
In 2022, governor of Morocco’s central bank, Abdellatif Jouahri, said the industry makes up 32.3% of Morocco’s national production enterprise, against a 25.6% average between 2000 to 2018.
