This article was automatically translated from HIBAPRESS, the Arabic version:
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Hibapress
The economic partnership linking Morocco to Zambia occupied an important place in the work of the inaugural session of the Joint Cooperation Commission (CMC) which was held on Friday in Laâyoune, under the co-chairmanship of the foreign ministers of the two country.
Although geographically distant, Morocco and Zambia – the third largest economy in southern Africa with a GDP of 28 billion dollars in 2023 – are committed to strengthening their economic relations, particularly in view of their economic complementarity and their combined potentials and that again untapped.
Indeed, the commitment to raising the Moroccan-Zambian economic partnership to a level that it deserves, as reiterated at the very first Morocco-Zambia CMC, is part of the repeated calls from the business community and economic operators of two countries, only in the Vision desired at the highest level by the two Heads of State, King Mohammed VI and President Hakainde Hichilema.
This commitment was reflected, from the first hour, through the royal visit carried out by King Mohammed VI, from February 19 to 23, 2017 to Zambia, during which no less than 19 government and economic partnership agreements were signed.
These agreements cover a wide range of areas such as air services, investment protection, finance, insurance, education, training, tourism, agriculture, technology, industry, mining and renewable energies, constitute an appropriate legal framework to structure fruitful cooperation between the governments of the two countries as well as between their private operators.
It is not accidental that the economic dimension today occupies an important part within the bilateral legal framework, which includes important cooperation agreements governing Moroccan-Zambian bilateral economic cooperation, including a memorandum of understanding for the implementation establishment of a Business Council, an agreement on the encouragement and protection of investments, as well as a general framework agreement for economic, scientific, technical and cultural cooperation.
This group of bilateral instruments aimed at promoting and streamlining bilateral economic exchanges was further expanded this Friday on the occasion of this 1st CMC held in Laâyoune, which saw the signing of 7 new cooperation agreements, including one Institutional MoU between AMDIE and its Zambian counterpart.
This is an important legal arsenal because the volume of trade and direct investments remains below the potential of the two countries, which constitutes an opportunity to identify complementarities and synergies which will make it possible to boost trade between the two countries. Morocco and Zambia, particularly in the context of the implementation of the ZLECAF.
The two parties also signed, on this occasion, an MoU between the Ministry of Justice of the Kingdom of Morocco and its counterpart of the Republic of Zambia, an MoU relating to higher education and scientific research as well as an MoU on cooperation in the field of tourism.
They also signed an MoU relating to cooperation in the field of mines, geology and hydrocarbons, a cooperation agreement in the field of professional training and a framework cooperation agreement in the provision of scholarships. academic studies and capacity building and exchange of expertise programs.
This Joint Cooperation Commission was also sanctioned by the signing of a Joint Communiqué and minutes of this meeting.
The 1st Morocco-Zambia CMC, which opens under the best auspices of strengthening the bilateral partnership, thus marked the desire of the two countries to raise their economic cooperation to the level of their excellent bilateral relations, for the benefit of both peoples.
With this in mind and in the continuity of the efforts carried out at the highest level of the two States, Morocco and Zambia are today linked by a robust Cooperation Roadmap (FDR), covering the period 2023 to 2025 and which has enabled to make sustained progress in achieving the objectives of strengthening bilateral economic cooperation, during this mid-term period of the FDR.
A week of economic promotion of Zambia in Morocco was launched as part of this FDR, on June 21, 2024 in Rabat, with a view to promoting the economic potential of Zambia in the Kingdom in various sectors of activity.
Several meetings in Rabat, Casablanca and Laâyoune were also organized for the benefit of a Zambian economic delegation with public establishments, private economic operators, the General Confederation of Moroccan Enterprises (CGEM) and sectoral federations, in the aims to promote the development of win-win business partnerships between Moroccan operators and their Zambian counterparts.
