Chinese Ambassador to Morocco Sun Shuzhong said on Monday that the cooperation between China and Africa, which serves as “a good example of South-South cooperation, is “very dynamic.”
Speaking at the opening of the first Joint International Conference on Afro-Asian Cooperation, held at the University Mohammed V in the Moroccan capital of Rabat, the Chinese ambassador highlighted the significant development of China’s comprehensive strategic partnership with Africa, saying that China will provide 60 billion U.S. dollars for 10 major cooperation programs in Africa.
So far, more than 240 agreements, totalling 50.7 billion U.S. dollars, have been signed between China and Africa, according to the ambassador.
On the development of Morocco, Sun said that the North African country “has made great achievements in economic development in recent years,” hailing it as “an engine of economic development in the region.”
In the past years, Morocco and China have signed a number of commercial, social, and cultural agreements between the two countries.
China has become one of the largest investors in Morocco in almost all sectors. Last year, Chinese investments in Arab and Islamic countries reached more than $ 64 billion.
Within this context, the Chinese Central Bank has signed with its Moroccan counterpart, Banque du Maroc, a three-year partnership agreement with a grant estimated at $1.53 billion.
The agreements signed during the royal visit will double the size of Chinese investments in Morocco, as well as the volume of trade and cooperation between the two countries, which will contribute to job creation and the promotion of economic, social, and cultural exchanges.
Source: Xinhua | Dec 20