Paris Europlace and Moroccan Financial Board decide to structure their finance links

This agreement aims to implement joint projects, which build on the expertise accumulated by Casablanca as a gateway to financial markets in the Maghreb, West Africa and Central Africa, as well as Paris and as an entry point to the markets of the euro area, the main hub of investment in Europe, said a statement.

The MoU is one of 19 agreements signed during a ceremony presided over by King Mohammed VI and President of the French Republic, François Hollande.

Signed by the President of Paris Europlace Gérard Mestrallet and CEO MFBoard Said Ibrahimi, this agreement focuses on three priority areas of cooperation, namely animation in different areas of finance, research and financial innovation and the promotion and international development, the statement said.

These include jointly organize thematic seminars in various areas of finance and developing actions in the field of financial research and exchanges between the actors of the financial centres of Paris and Casablanca.

"This cooperation agreement is part of the strateg of Paris Europlace to develop trade with Africa and the Mediterranean," said Mestrallet sidelines of the signing of the agreement, noting that the agreement aims to strengthen the links between the financial centres of Paris and Casablanca with it is positioned as a hub for access to financial markets in Africa.

The objective is to accelerate concrete actions and exchanges between actors from both financial markets and cross-investment, training and support of innovative SMEs, he said.

For his part, Ibrahimi noted that this partnership, which falls within the special relationship between Morocco and France, responds to the desire to develop exchanges between the two financial centres, particularly in the areas of research and funding innovation.

Moreover, Casablanca Finance City "hub" a multi-purpose regional businesses, through this agreement is to provide French companies and institutions with a basis for privileged access operations in the far North West Africa, he said.

He added that the positioning of Paris Europlace, as a gateway to the markets of the euro, will benefit all companies based in Casablanca Finance City.

The Moroccan Financial Board, a company formed as a public-private partnership between the key players in the financial sector, is responsible for overall management and promotion of institutional Casablanca Finance City (CFC). The latter aims to make Casablanca a regional hub for financial institutions, professional services and corporations.

Paris Europlace is the coordinating organisation for te promotion of the Paris financial centre which maintains efforts to develop reforms and improve the competitiveness of the financial sector, to promote Paris internationally and develop research funding and support innovative SMEs.