China and Morocco Found 'Belt and Road Institute' amid China's $11 billion Investment
By Joburg Post
Morocco and China, signed a 140 million (Morocco Dirham) agreement for technical and economic cooperation, to finance and bolster joint public projects. Since 2009, trade in Morocco has increased to $4.7 billion annually. As of 2016, China has significantly increased investments into Morocco with a joint statement on strategic bilateral partnership. China has pledged to support social and economic development in Morocco.
As of 2018, China stands as Morocco’s third largest trading partner, of which an $11 billion investment into “Mohamed VI Tangier Tech City,” has promised job creation for more than 100 000 locals in Morocco. Beijing has aimed to diversify investments in the Moroccan region. At the Forum on China-Africa Cooperation, Chinese Ambassador to Morocco, Li Li, promised financial aid for education and training, in a productive meeting with Morocco’s Minister of Economy and Finance, Mohamed Benchaaboun. Li stated that
“The increasing number of exchanges will further promote mutual understanding between people in the two countries.”
Moroccan investments into tea, were also significant, with Morocco importing tea leaves from China.
Moroccan Minister of Foreign Affairs, Mohcine Jazouli, stated that the “North African country intends to play a central role, in its cooperation with China.” Morocco’s Africa policy, as well as the African Investment Policy, has proven to be a perfect fit for China’s Belt and Road Initiative, with both countries agreeing to start a “Belt and Road Institute,” for the Sino-Moroccan partnership.
In 2018, the Morocco-China joint committee for economic cooperation, both countries expressed commitment to broadening greater economic partnership. Since the Belt and Road agreement, tourism has doubled to 120 000 tourists, proving the partnership to be prosperous for tourism, as well as the education and financial sector.