Economy - Development | Politics | Technology
$1.5 million grant for Morocco tech development
afrol News, 20 March - Morocco has received a US$1.5 million grant from the Chinese government to fund the bilateral cooperation projects.
The national news agency, MAP has reported, Finance Minister, Salaheddine Mezouar, saying the grant agreement which is geared towards technology development will also explore opportunities offered by the two countries in the areas of inductrial development.
Morocco has expressed interest and willingness to set up an industrial zone for Chinese businesses, also offering itself as a gateway to Africa with a number of the north African country's businesses being operated in the continent.
To reduce Morocco's trade deficit with China, the Chinese Vice Minister of Commerce, Fu Ziying, called on Moroccan businesses to market their products in the Chinese market, stating that the two governments also agreed on the means to cushion the effects of the current global economic crisis.
Mr Ziying voiced China's readiness to provide Morocco with its experience in the field of solar energies to reduce the effects of global warming.
According to MAP, the two countries have agreed to slash trade deficit to give a new drive to trade and economic exchanges, especially through encouraging businesses from both countries to invest in each other.
The Chinese minister is currently on a visit to Morocco which ends on 21 March.
China and Morocco established diplomatic relations in November 1958. Over the past 51 years the political relations between China and Morocco have been developing steadily and smoothly.
By staff writer
© afrol News
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