China’s investments are strengthening in Morocco

The Chinese company Shandong Kuntai New Materials Technology Co., Ltd. and the French company Trèves for Products, Services and Innovation signed a “letter of intent” agreement for cooperation, according to which the former will establish a branch to produce car carpets in Morocco, and supply the latter with this product from the Moroccan branch.

The Shandong Kuntai Company stated in a “voluntary statement” regarding this step that the agreement aims to “establish a long-term and friendly strategic cooperation relationship, and benefit from the complementary advantages in the resources of both parties.”

In accordance with the terms of the agreement, “Contai Company will establish a production line for car carpets in Morocco, and “Provide Trèves with the products from this line.”

In return, Trèves will appoint Contai as a “supplier of its car carpets for a period of five years.”

The same source stated, “The main goal of this cooperation is to ensure that Trèves has sufficient business volume to benefit from the full production capacity of one production line in the Contai factory in Morocco.”

The aforementioned announcement stated that the “Letter of Intent” agreement signed on this occasion “is nothing but a framework document aimed at establishing a general framework for commercial cooperation between the two parties, while the content of the final cooperation is still under negotiation and determination at a later date.”

“The specific arrangements and actual cooperation amounts will be approved based on the sales contract that will be signed later between the two parties,” the same source states.