Rabat, Morocco (TMT)- Representatives from the Moroccan Agency for Investment and Export Development (well known under its French acronym AMDIE) have signed a memorandum of understanding (MoU) with those from the Wuhan Economic Development Zone (WEDZ), the International Federation of Chinese Entrepreneurs, and Bank of Africa (BoA) in Shanghai.
The objective is to boost Chinese investments in Morocco, particularly in the automotive sector. The AMDIE aims to set up a competitive commercial platform in the medium term to facilitate trade and exports in the automotive sector and establish a long-term production plant for electric cars in Morocco, both for component manufacturing and electric vehicle production.
The Moroccan automotive sector, which exported nearly MAD 100 billion in 2022, has made exceptional progress, with the North African kingdom becoming the largest vehicle manufacturer in Africa in the last few years.
Morocco and China’s commercial exchanges have grown by 50% over the last five years, reaching USD 6 billion in 2021.
At present, there are more than 80 Chinese investment projects in Morocco.
The Moroccan Times.