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China grants Morocco $1.5m to rev up technological cooperation

(Xinhua)
Updated: 2009-03-20 19:44

China has granted Morocco 10 million yuan (about $1.5 million) to fund bilateral cooperation projects in the field of technology, local MAP news agency reported late Thursday.

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The grant agreement was signed by visiting Chinese Vice-Minister of Commerce Fu Ziying and Morocco's Finance Minister Salaheddine Mezouar, the report said.

Speaking to reporters, the two official hailed the friendship and cooperation ties between China and Morocco, and highlighted their will to further boost cooperation.

Economic and financial cooperation is also called to be diversified through exploring the opportunities offered in both countries, Mezouar and Fu said.

The Chinese official had earlier met with Industry, Trade and New Technologies Minister Ahmed Chami, who said Morocco is willing to set up an industrial zone for Chinese businesses if they are interested.

Chami stressed that Morocco offers a gateway to Africa, as several of the north African country's businesses are operating in the continent.

For his part, Fu voiced China's readiness to provide Morocco with its experience in the field of solar energies.

The two countries have agreed to slash trade deficit to give a new impetus to trade and economic exchanges, especially through encouraging businesses from both countries to invest in each other.

The Chinese minister is leading a delegation of businessmen operating in IT, textiles and renewable energies on a visit to Morocco that ends on March 21.