In a move to strengthen the ties between Morocco and China, Morocco’s Banque Populaire Popular Bank recently signed an important partnership with the Chinese Yangxi and Energy Investment Company. Among the terms of the agreement, an important one is to manufacture a new generation of electric buses in Morocco!
We all know pretty much everything is “Made in China’, however, this partnership will not only promote economic and commercial exchange between Morocco and China, it will also give merit to a new label hitting the markets, “Made in Morocco”.
These new generation of buses will require an investment of 1.2 billion Dirhams, courtesy of this new partnership! China is exporting 30 buses down to the Moroccan city of Marrakech, as a first step. Now, when these buses hit the streets, Morocco will become the first country in the MENA region to manufacture eco-friendly buses!
This new manufacturing unit is just one of the many other agreements meant to endorse this new relationship. Morocco is now preparing for the biggest event in its history, where it will receive world leaders from five continents, in the United Nations conference on climate.
According to the communiqué of the Popular Bank carried by MAP, the Popular Bank and its Chinese partner ICBC (Industrial and Commercial Bank of China) agreed to expand their cooperation to fund investment projects in Morocco and in Sub-Saharan Africa.
The partnership is off to a good start, and hopefully, the MENA will become a place thriving with new activity!
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