Portuguese firm signs MoU with Morocco to develop textile sector

15 May '23

1 min read

Pic: Valerius Texteis

Insights

Portuguese textile company Valerius Texteis recently signed an agreement in Lisbon with the government of Morocco to strengthen and sustainably develop the latter's textile sector at a cost of 1 billion Moroccon dirhams.
The company, which already operates in Morocco, is launching a new textile recycling project that will create 1,500 jobs.

Morocco and Portuguese textile company Valerius Texteis recently signed an agreement in Lisbon to strengthen and sustainably develop the former’s textile sector at a cost of 1 billion Moroccon dirhams. The agreement was signed on the sidelines of the Portugal-Morocco Economic Forum.

The company, which already operates in Morocco, is launching a new textile recycling project that will create 1,500 jobs, according to a newspaper report from Morocco.

The forum was organised on the sidelines of the Portugal-Morocco High-Level Meeting by the General Confederation of Moroccan Enterprises, the Portuguese Business Confederation, the Portuguese Agency for Investment and Foreign Trade and the Moroccan Investment and Export Development Agency.

This agreement is not the first of its kind. The two countries had already signed an agreement in 2021 to boost economic cooperation by setting up a joint Economic Council in Casablanca.

Fibre2Fashion News Desk (DS)

More Textiles News - Morocco...