China and Morocco will expand trade and economic cooperation and strive to maintain a trade balance by diversifying China's imports from Morocco.
This was agreed here Saturday between top trade officials from the two sides at the fifth meeting of China-Morocco Mixed Committee on Trade and Economic Cooperation, co-chaired by Minister of Foreign Trade and Economic Cooperation Shi Guangsheng and Morocco's Minister of Industry, Commerce, Energy and Mines, Mustapha Mansouri.
Shi said China and Morocco have maintained sound development in trade, economic and technical cooperation in recent years.
However, he noted that bilateral trade between China and Morocco still sees massive potential for further development, and China is willing to achieve a trade balance with Morocco by expanding imports from this north African country.
Talking about cooperation between Chinese and Moroccan enterprises, Shi said the Chinese government encourages enterprises to invest in Morocco by setting up plants and undertaking engineering projects.
Meanwhile, he said that China welcomes investment from Morocco.
During the meeting, Shi thanked the Moroccan government for its support to China's accession to the World Trade Organization (WTO). He said China appreciates Morocco's "one China" stance on the Taiwan issue.
Mansouri said at the meeting that Morocco, as an emerging market, wishes to employ China's experience in economic reforms and further strengthen cooperation with China in diverse areas including agriculture, fisheries, and land resources development.
The two ministers signed documents on Sino-Moroccan economic and technical cooperation after the meeting.
The Moroccan delegation arrived here Friday for a four-day visit as guests of Shi Guangsheng.
Statistics from the General Administration of Customs show that bilateral trade between China and Morocco total US$336 million in 2000.