Morocco and China have agreed to set up an economic zone in Morocco’s northern city of Fez, offering a platform for boosting bilateral cooperation in various industries, local media reported Monday.
A Memorandum of Understanding has been signed between the Fes-Meknes Regional Investment Center and the China Industrial Cooperation Association, the financial daily L’Economiste reported.
The deal aims to establish an economic zone as a platform to attract Chinese investments in the fields of automobile, aviation, agriculture, health and renewable energy, the report said.
Bilateral economic cooperation between Morocco and China has been growing steadily since the establishment of a strategic partnership during the Moroccan king’s visit to China in May 2016.
Since then, Morocco has witnessed a wave of Chinese investment in the country, especially in the areas of infrastructure construction and industrialization.
In June 2016, Morocco granted Chinese citizens visa-free entry to the North African kingdom.