Morocco's King Mohammed VI chaired in Tangier on Monday, the signing ceremony of a cooperation agreement relating to operations and commercialisation of the Tangier-Mediterranean free zones between the Moroccan Tangier Mediterranean Special Agency (TMSA), and the Dubai-based economic operator “Jebel Ali Free Zone International” (JAFZI).
Under the 10-year agreement, JAFZI and TMSA will undertake a strategic partnership that will enable two geographically complementary platforms to combine their respective assets to offer investors operating conditions under the best international standards.
According to MAP, the promoters of this project expect it will enable Tangier Med to reach its objectives that represent a volume of private investments estimated at EURO 1 billion and an added value of EURO 250 million.
The project is targeting a proximity market of over 600 million inhabitants, including Western Europe, Western Africa, North Africa as well as other significant markets particularly North America. Within the 2020 perspective, it is expected to reach a container traffic throughput of 3 million TEU, 1 billion EURO in private investments and the creation of 145.000 jobs. (menareport.com)
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