MOROCCO – The Kingdom of Morocco, through the Moroccan Investment and Export Development Agency (AMDIE) has sealed a cooperation agreement with the Ghorfa Arab-German Chamber of Commerce and Industry to further strengthen business and investment opportunities between Morocco and Germany.
According to a report by Morocco World News, the cooperation agreement aims to establish a framework for cooperation to elevate the reputation of Moroccan companies in the German market and promote business opportunities in Morocco to German investors.
With the agreement, AMDIE and Ghorfa intend to organize business missions and sectoral meetings to identify means of promoting business relations between their companies, Morocco’s national broadcaster reported.
The cooperation agreement also calls for specialized publications on the economies of the two countries to support these efforts.
According to Morocco World News, a guide on investment and the business climate in Morocco is on track for publication in German, and will be widely distributed to German economic operators.
Morocco’s Ambassador to Germany, H.E Ambassador Zohour Alaoui who has been critical in the creating and implementation of the agreement has been actively seeking ways to improve cooperation between the two nations.
On June this year, the ambassador signed an agreement with the German Federal Minister for Economic Cooperation and Development, Gerd Muller, on the development of the green hydrogen production sector.
The hydrogen agreement commits the Moroccan Ministry of Energy, Mines, and Environment to a partnership with the German Ministry of Economic Cooperation and Development to set up research and investment projects in the use of hydrogen for clean energy.
Morocco was the first country to sign an agreement of this nature with Germany. The two countries’ bilateral cooperation in the field of renewable energies dates back to the 2012 signing of the Moroccan-German Energy Partnership (PAREMA).
In January, the Chamber of Commerce of the Rabat-Sale-Kenitra region signed an agreement with the Training and Development Centers of the Bavarian Employers’ Associations (BFZ) to support Moroccan vocational training institutes.
Last year, Morocco signed an MoU with Germany to set up a “reform partnership.”
The partnership entailed a contribution from Germany within the framework of the G20 initiative Compact with Africa (CWA), which promotes private investment in Africa.
Under the partnership, Germany will provide €571 million from 2020 to 2022 to support the implementation of Morocco’s investment reforms.
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