Morocco and China are eager to extend their economic cooperation to the African continent as Chinese investors seem poised to build on Morocco’s strategic location and business ties with Africa, said The Diplomat, a magazine specializing in the Asia-Pacific region. “Morocco can be China’s gateway into West Africa and beyond, where Moroccan companies and businessmen are already playing a leading role,” the magazine quoted Brahim Benjelloun Touimi, the director general of BCME Bank and the chairman of the Bank of Africa, as saying. “The Bank of China, China’s oldest financial institution, opened its first branch in Morocco this year. “The relationship dates back to November 1958, when Morocco became only the second country in Africa to recognize the People’s Republic of China. “China sees in Morocco an opportunity to develop factories for export to the European Union, just across the straights of Gibraltar,” said the magazine.

Source: The North Africa Journal March 03, 2017 15:42 UTC