RABAT, Nov. 20 (Xinhua) -- Morocco is "the largest African investor in the region of West Africa, and the second African investor in the continent," said Moroccan Foreign Minister Nasser Bourita in a speech released on Wednesday by his department.
"Almost two thirds of Moroccan foreign direct investment goes to Africa," Bourita said on Tuesday in Berlin at the third G20 Compact with Africa (CwA) summit.
Africa and its development are a "priority, and at the center of Moroccan foreign policy," he said, adding that it is "not a statement but rather a reality."
"It is important to broaden the CwA by opening up more widely to African countries, to break down the stereotypes according to which the African market would be riskier than the others, and to strengthen the potential for inter-continental and intra-continental cooperation," he said.
The G20 CwA was initiated under the German G20 Presidency in 2017 to promote private investment in Africa.
Its main objective is to encourage private investment in Africa in order to drive growth, create jobs, and stem migration by creating economic opportunities for young people in Africa.
A total of 12 African countries have joined in the CwA so far.
