BRI has enhanced economic cooperation, increased FDI and improved sustainability
Relations between Morocco and China have grown steadily since the establishment of diplomatic ties in 1958. They are based on mutual trust, respect for sovereignty, territorial integrity and effective solidarity.
In recent years, especially following King Mohammed VI’s visit to Beijing in May 2016, Morocco and China have committed to further strengthening multilateral cooperation through the establishment of an institutionalized strategic partnership.
The Belt and Road Initiative (BRI) has had a significant impact on China and Morocco’s relations and development. Morocco has been an active participant in the initiative, viewing it as an opportunity to strengthen its economy and infrastructure. The BRI has also promoted cultural exchanges.
Overall, the BRI has benefited China-Morocco relations and development by encouraging cooperation and partnership between the two countries.
Morocco and China have recently increased their economic collaboration and both countries have made investments in infrastructure, energy and trade.
One of the most prominent examples of economic collaboration between China and Morocco is the Tangier Med port, which is one of the largest in Africa and was built with Chinese assistance. This port has become an important hub for trade between Africa, Europe and Asia.
China and Morocco have signed several trade agreements and initiatives that focus on strengthening their economic ties. China and Morocco struck a free trade agreement in 2016, making it easier for the two countries to interchange goods and services.
Furthermore, China has emerged as one of Morocco’s primary suppliers of items such as machinery, electronics, and textiles. China has also invested in renewable energy projects in Morocco, and Chinese businesses are present in projects such as the Noor Ouarzazate Solar Complex, one of the world’s largest solar power plants. This project has helped reduce Morocco’s reliance on fossil fuels.
By establishing networks for transportation, electricity and connectivity, the BRI seeks to improve and enhance infrastructure in the participating countries. This will boost cultural contacts between China and the participating nations as well as economic growth.
One of the key advantages of the BRI in the African context would be how it has increased investment in infrastructure. Through investing in telecommunication, energy and transportation networks, the initiative can help realize mutual economic growth in Africa and China. It will also support sustainable development by the way it addresses environmental issues.
It is, therefore, an effective pathway toward a deeper, stronger relationship between China and Africa as well as other regions.
Africa offers a wide range of characteristics that are well aligned with China’s economic and strategic goals, as defined in the BRI: it is a raw material-rich continent; the infrastructure needs are colossal; the African economies, traditionally outward and dependent on the rest of the world (in terms of access to finance, as well as technology and know-how), are welcoming for international investors; finally, the African population is growing much faster than anywhere else.
This Chinese project is, first, an opportunity to strengthen economic cooperation between Africa and China. In recent years, China has become Africa’s major trading partner, and the BRI can help improve this relationship by strengthening investment and trade between the two sides. The construction of transport infrastructure, such as ports, airports and railways, can facilitate trade and regional integration.
In addition, BRI foreign direct investment in Africa is crucial for the continent’s sustainable development. Infrastructure projects under the framework of the BRI can create jobs and boost economic growth while improving the accessibility of rural areas and poorly served communities in Africa. This can help reduce poverty.
Finally, the BRI can contribute to enhancing environmental sustainability in Africa. By investing in clean energy projects and other sustainable technologies, China can help reduce greenhouse gas emissions and promote environmental sustainability in Africa. BRI-backed sustainable development projects can help strengthen local communities’ resilience to the effects of climate change and promote green economic growth.
Since its inception in 2013, the BRI has earned the trust of many nations and has the potential to reshape the economic and political landscape of the region. It is appropriate to mention that the initiative has many benefits for the relationship between Africa and China and the sustainable development of the continent. Enhanced economic cooperation, increased foreign direct investment, and environmental sustainability are among the many benefits that both sides can reap from the initiative.
The author is founder and president of the Amadeus Institute in Morocco. The author contributed this article to China Watch, a think tank powered by China Daily.
The views do not necessarily reflect those of China Daily.