Morocco and China Sign the Belt and Road Initiative Agreement

Morocco and China strengthened their partnership by signing a joint Belt and Road implementation plan.

Moroccan Foreign Minister Nasser Bourita and Chinese National Commission for Reform and Development Vice-Chairman Ning Jizhe signed the implementation plan on Wednesday, January 5.

Morocco & China Sign the Belt and Road Initiative

The plan, known as One Belt, One Road, was launched in 2013 with the goal of facilitating trade, research, and technology collaboration, as well as cementing a strategic partnership between the two countries.

When incorporated, the agreement should result in the formation of joint ventures in the energy sector between the two countries.

China also promises to encourage Chinese companies to invest in Morocco, as well as provide funding for large-scale development projects in the African country.

Read Also: Why China Is in Africa and What Is the “Real Deal”

Morocco was the first country from the Maghreb to join the Belt and Road Initiative.

Morocco and China signed an agreement that will involve Africa in order to build a tripartite partnership in the field of sustainable development.

On Tuesday, January 4, Chinese Foreign Minister Wang Yi began his traditional first abroad trip of the year on the continent.

What is the Belt and Road initiative? | CNBC Explains

Source: Africanews & CNBC

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