Speaking during the ministerial meeting organized as part of the work of the 1st Korea-Africa Summit, Mr. Bourita said that Morocco, which has made South-South cooperation and solidarity a strategic pillar of its policy foreign, has launched several initiatives in key and priority areas for the continent, including climate change, food security, health and connectivity infrastructure.
In this sense, he mentioned the Royal Initiative to promote access of Sahel countries to the Atlantic Ocean, aiming to make the Kingdom’s roads, ports and railway networks available to landlocked Sahelian states, ‘Initiative of the African States of the Atlantic, which aims to structure a geostrategic space and unite its countries around common objectives and actions and the Morocco-Nigeria Atlantic gas pipeline project which constitutes a real lever for regional integration .
In terms of food security, Morocco makes its contribution to ensure access to stable and regular harvests in Africa, through the development of numerous fertilizer production units, added the minister, noting that in terms of cooperation technical, the Kingdom has granted more than 12,000 scholarships to African students and technical personnel, allowing them to pursue studies in Moroccan universities and specialized establishments.
Furthermore, Mr. Bourita affirmed that African countries are “open and eager to establish a mutually beneficial partnership with Korea”, a partnership which develops the economy, but which is centered on the people, in particular through the strengthening basics of public health and education, as well as the training of high-quality human resources.
It is “a partnership that promotes trade and investment and promotes infrastructure, while investing in emerging areas, such as innovation, technology, digital transformation, as well as green and blue”, continued the minister.
In this sense and in order to maximize the dividends of the Korea-Africa partnership, triangular cooperation should be the subject of particular attention, with greater involvement of the Korea International Cooperation Agency (KOIKA), noted Mr. Bourita, specifying that this is another useful channel where all partners contribute their knowledge and expertise, which encourages innovation and co-creation and leads to mutual benefits.
Much remains to be done to unlock the full potential of the Africa-Korea partnership, he further noted, noting that although Korea’s development assistance has increased, the country’s foreign direct investment Korea’s investment in Africa represents 1.5% of the country’s total international investments.
On the trade front, Korea’s trade with Africa remains relatively small in absolute terms, although it has increased by more than 150% since 2015, a trend that must be harnessed for it to be sustainable, he said. estimated Mr. Bourita, recalling that by 2030, Africa is expected to represent more than $6.7 billion in combined consumer and business spending.
And with Africa’s economic output expected to reach $29 billion by 2050, the African and Korean private sectors should seize significant existing opportunities to develop or expand their businesses in Africa, he added.
He also welcomed the organization of the first edition of the Korea-Africa Summit, calling it “a historic moment and an important step towards closer coordination with a friendly country, Korea, which has proven to be a partner credible for African countries, shown a sincere interest in collaborating, with respect, with Africans, and demonstrated its ability to contribute to the establishment of an innovative process of co-development in Africa, to which the Kingdom of Morocco and His Majesty King Mohammed VI attach great importance”.
Regarding the theme of this first summit, “The future that we build together: Shared growth, sustainability and solidarity”, the minister considered that it judiciously reflects a set of strong and common aspirations, aiming in particular to achieve sustainable development, taking into account human needs and the limits of nature, to establish inclusive growth, which leaves no one behind, and to promote pragmatic cooperation based not only on solidarity, but also on responsibility shared and mutual benefits.
Africa, despite enormous challenges, whether the delayed impact of the Covid pandemic, economic constraints, climate change or geopolitical tensions, remains booming as an engine of growth particularly thanks to its youth, noted the minister, adding that Africa is changing and can benefit from innovative partnerships in the service of shared prosperity.