Boeing Co. has signed an agreement with Morocco’s government that the North African kingdom hopes will create 8,000 jobs and an additional $1 billion a year in export revenue.
Boeing says it will support a Moroccan plan to build up its aerospace manufacturing sector, encouraging suppliers to set up or expand here. With a high-quality but cheap workforce, Morocco’s aerospace sector has developed rapidly over the past decade.
King Mohammed VI oversaw the signing Tuesday in Tangiers.
Boeing Commercial Airplanes CEO Raymond Conner says, “We and our suppliers must reduce costs and improve quality in order to win in the marketplace.” Moroccan Industry Minister Hafid El Alamy says Morocco hopes to bring 120 Boeing suppliers here.
Jobs and the economy will be a key issue in upcoming Moroccan legislative elections.
FOLLOW NEW AFRICA BUSINESS NEWS ON FACEBOOK @ New Africa Business News.com