Moroccan BMCE bank opens branch in China

The Moroccan BMCE Bank on Monday opened a branch in the Chinese capital city of Beijing in a bid to diversify Morocco's trade exchanges with foreign countries.

The initiative places Morocco ahead of African countries' relations with China, said Othmane Benjelloun, president and managing director of BMCE Bank. "We cannot reasonably envision the diversification of Morocco's foreign trade and the increase of foreign investments in Morocco without taking into account the shift of the world's geo-economic epicenter in the third millenium," he said.

Moroccan finance, economy, tourism and privatization minister, Fathallah Oualalou, who attended the branch dedication ceremony, said BMCE's presence in Beijing will be an engine for rapprochement between Moroccan and Chinese firms towards the development of economic and commercial partnership.

Oualalou is attending in Beijing the Africa-China partnership forum.