Morocco - China: Meeting with the China National Textile and Apparel Council
Rabat, Thursday, September 26, 2024
The Minister of Investment, Convergence, and Evaluation of Public Policies, Mr. Mohcine Jazouli, welcomed, today, on Thursday September 26, 2024, in Rabat, an important delegation from the China National Textile and Apparel Council (CNTAC), led by Mr. Xu Yingxin, Vice President of the Council, and composed of more than twenty business leaders. The purpose of this strategic meeting was to explore cooperation opportunities between Morocco and China in the textile sector. The meeting was attended by Mr. Ali Seddiki, Director General of the Moroccan Agency for Investment and Export Development, and Mr. Anass El Ansari, President of the Moroccan Association of Textile and Apparel Industries.
The China National Textile and Apparel Council is the national federation that covers all textile industries in the People's Republic of China.
This meeting provided an opportunity to share with the CNTAC members the remarkable opportunities offered by the Kingdom of Morocco, which, under the Leadership of His Majesty King Mohammed VI, may God assist Him, has become one of the most competitive industrial platforms in the region.
The Moroccan textile sector offers considerable potential for import substitution, with 85% of inputs currently being imported. The production of these inputs domestically would significantly strengthen the local supply chain while taking advantage of Morocco's competitiveness.
Investing in Morocco also allows exporting companies to benefit from free trade agreements, thus facilitating access to strategic markets such as the United States or the European Union, while reducing transportation costs and carbon footprint.
Morocco, as a member of the African Continental Free Trade Area (AfCFTA), also serves as a strategic gateway for investors seeking access to the rapidly growing African market.
In 2024, several Chinese companies in the textile sector set up in different regions of Morocco. They have already invested more than 300 million dirhams and will employ nearly 2,000 people by the end of 2025, illustrating the growing interest of Chinese textile operators in Morocco.
Boosting the textile sector, which is a major source of employment, is a priority of the Moroccan government's investment policy. This is demonstrated by the recent meeting in China between the Head of Government, Aziz Akhannouch, and the President of the Sunrise Group, Lei Xu, a global leader in textiles, to accelerate the realization of a strategic investment in Morocco that would create more than 10,000 jobs.
