Global Times
Source:Agencies-Global Times
Morocco’s BMCE Bank of Africa (BOA) and the China Development Bank (CDB) signed a memorandum of understanding (MOU) to enhance bilateral trade and investment, local media reported Saturday.
This deal aims to boost joint ventures in infrastructure, transport, car manufacturing, technology parks, investment and trade, and sustainable development projects, in line with the MOU on the Belt and Road initiative signed by Morocco and China in November 2017.
The latest agreement offers a solid basis for Sino-Moroccan cooperation in the private sector, with a view to consolidating Morocco’s position as a major gateway to Africa and creating new momentum for the development of the bilateral ties.
The BOA Group is also planning to open a branch in Shanghai as soon as possible, the financial news site Medias24.com reported.
