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China is ready to welcome more Moroccan products to its market and hopes to raise the level of trade and economic cooperation between the two countries to a higher level, a leading Chinese trade official said in Beijing Monday.
The official from China's Ministry of Foreign Trade and Economic Cooperation (MOFTEC) said on the eve of Chinese Premier Zhu Rongji's visit to Morocco that China welcomes all Moroccan products that can sell well into its market.
"China is opening its market wider to the outside world since it became a member of the World Trade Organization," said the official who refused to be named. "We hope to work with the Moroccan side to push forward the trade and economic cooperation between our two countries."
China and Morocco established full diplomatic relations in November 1958. Over the past 40 years, two-way trade has grown steadily and economic cooperation has also progressed "satisfactorily", said the official.
Chinese figures show that bilateral trade between China and Morocco reached US$384 million in 2001, up 14.3 percent year on year. China exported about US$300 million worth of electronic products, machinery, tea, textile products and garments to Morocco, and bought about US$84.35 million worth of phosphate fertilizer and cobalt ore in sand form in 2001.
The fishing industry is a good example of economic cooperation between the two countries, said the official.
Chinese aquatic products companies began to establish joint ventures with Moroccan companies in 1988, and more than 20 fishing companies have so far been set up. China's investment in those ventures has totaled US$150 million.
Those 20-plus joint ventures now own more than 80 ships, and have handed over some US$25 million worth of taxes to the government of Morocco. Those ventures also employed more than 2,000 Moroccan workers.
In addition, Chinese businessmen have established five processing ventures in Morocco. They include a steel wire factory, a motorcycle assembly works and a garment factory.
Since 1961, China has also offered different kinds of assistance to Morocco including the construction of a sports facility in Rabat, the provision of mash gas on an experimental basis, mulberry planting and silkworm raising skills, among others.
Morocco was one of the first African countries to sign a governmental trade pact with China. The two countries have since signed a number of trade and investment agreements.
"We attach great importance to developing trade and economic cooperation with Morocco," said the official. "Under the principle of equality, mutual benefit and common development, we hope to work with the Moroccan side and seek new cooperative projects to push forward bilateral cooperation."
(Xinhua News Agency August 26, 2002)
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