The International Islamic Trade Finance Corporation (ITFC) signed a partnership agreement with the National Company of Transports and Logistics, SNTL, in Morocco, under the umbrella of the Aid for Trade Initiative for Arab States (AfTIAS), to launch a study for the development of logistical platforms for trade and investment facilitation between Morocco and sub-Saharan Africa
The signing took place during the opening session of the OIC Trade Promotion Organizations (TPOs) Meeting, in Casablanca, Morocco on 11 October 2017 between Eng. Hani Salem Sonbol, CEO, ITFC and Fouad Ktib, Deputy Director General of SNTL.
The opening session was inaugurated by Dr. Zahra, Maarefi, the director general of Maroc-Export and keynote speeches delivered by Hani Salem Sonbol, CEO, ITFC, and Dr. El Hassane Hzaine, the director general of the Islamic Centre for Development of Trade (ICDT) and Anne Chappaz, Chief, Trade and Investment Support Institutions, ITC.
On this occasion, Hani Salem Sonbol, CEO, ITFC emphasised: “We aim at reducing the gap of physical infrastructure constraining trade and investment flows between Morocco and sub-Saharan Africa. This signing is under the umbrella of the AfTIAS, but is also at the core mandate of the Arab Africa Trade Bridges (AATB) Program, which is created for bridging the trade gaps between the Arab and African countries”.
ITFC has identified the importance of developing trade hubs in Africa, therefore its involvement in this project will improve trade solutions in Morocco and some sub-Saharan Africa countries by reducing logistical costs, and encouraging trade exchanges amongst them.
“I am very positive of this agreement & partnership with SNTL, and expecting many encouraging outcomes of it, which will ease the trade routes between them, and flourish their economies” added Eng. Sonbol.
Both ITFC, and SNTL agree that trade and investment are among the key pillars of a new collaboration between Morocco and Sub-Saharan Governments.
In adherence to that, this plan will open doors, and create possibilities for investment in infrastructure, develop capacity building skills, and help create private businesses that offer many services to the public.
