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Economy

Morocco Strengthens Textile Ties with China: A Strategic Move for Economic Growth

Friday 27 September 2024 - 17:30 Journalists: Dakir Madiha

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Morocco is taking significant steps to bolster its textile industry by forging stronger partnerships with China, a global powerhouse in textile manufacturing. This strategic move comes as part of Morocco's broader efforts to attract foreign investment and position itself as a key industrial hub in Africa.

In a recent high-level meeting, Morocco's Minister Delegate for Investment, Mohcine Jazouli, welcomed a delegation from the China National Textile and Apparel Council. The gathering, which included over 20 business leaders, served as a platform to explore collaborative opportunities between the two nations in the textile sector.

The Moroccan representatives seized this opportunity to showcase the country's industrial potential, highlighting its strategic advantages as a member of the African Continental Free Trade Area. This positioning makes Morocco an attractive destination for investors looking to tap into the African market.

Chinese companies are already making their mark in Morocco's textile landscape. This year alone has seen several Chinese firms establish operations in the country, with investments totaling approximately 300 million Moroccan dirhams (equivalent to $30 million). These ventures are not only boosting the local economy but also creating job opportunities, with plans to employ nearly 2,000 people by 2025.

One of the most significant developments in this burgeoning partnership is the recent announcement by Chinese textile firm Sunrise. The company has unveiled plans for a substantial investment of $422.2 million in Morocco. This project, which has received support from Morocco's Head of Government Aziz Akhannouch, is expected to generate 11,000 direct jobs within three years, spanning several provinces and regions across the country.

The Moroccan government has consistently emphasized the importance of the textile sector in its national economic strategy. Abdellatif Jouahri, governor of Morocco's central bank, underscored this point by revealing that the industry currently accounts for 32.3% of Morocco's national production enterprise, a notable increase from the 25.6% average observed between 2000 and 2018.

This growing collaboration between Morocco and China in the textile sector reflects a broader trend of increasing economic ties between the two countries. It also aligns with Morocco's ambitions to diversify its economy and strengthen its position as a manufacturing hub bridging Europe and Africa.

As these partnerships continue to develop, they are likely to bring about significant changes in Morocco's industrial landscape, potentially reshaping the country's economic future and its role in global trade networks.