Morocco, China to establish Silk Road business council

People walk past the installation “Golden Bridge on Silk Road” by artist Shu Yong set up ahead of the Belt and Road Forum in Beijing, China May 10, 2017. REUTERS/Thomas Peter

Morocco and China signed Tuesday a Memorandum of Understanding (MoU) for the establishment of the Silk Road business council.

The MoU was signed by Morocco’s Employers Association (CGEM) and China Council for the Promotion of International Trade (CCPIT) in Morocco’s economic capital Casablanca.

CGEM Vice President Faical Mekouar and CCPIT Chairman Jiang Zengwei inked the deal at the Morocco-China Forum, which was attended by a number of Moroccan and Chinese officials and business people.

This council aims to serve as a “platform for the industrial and commercial sectors of the two countries,” said the forum.

It will provide information on investment opportunities and help solve problems that hinder commercial cooperation at the international level.

Permanent exchanges of updated information on the economic situation of the two countries, the regulatory evolution, commercial data, and industrial and commercial policies will also be available on this platform.

Under the deal, both CGEM and CCPIT are committed to creating the necessary mechanisms for the holding of regular meetings to examine and evaluate the cooperation between the two sides.

Apart from the signing of this agreement, the forum was also an opportunity for the business communities from both countries to meet and explore means to boost bilateral cooperation.