2023-04-18 13:54:41
Lhe first memorandum of understanding concerns the promotion of sustainable development in the textile sector. It was signed by the Minister of Industry and Trade, the Director for Morocco and Djibouti of the International Finance Corporation (IFC), a member of the World Bank Group, and the President of the Moroccan Association of textiles and clothing (AMITH).
This agreement aims to decarbonize the Moroccan textile and clothing sector, develop circular production and promote the sector. As such, it will make it possible to benefit from IFC’s technical and financial services for strategic and transformative projects and to support the awareness and training of SMEs in circularity practices. It also aims to support companies in adopting new business practices and new technologies, in particular through technical upgrades and the implementation of expansion plans and/or access to capital. The memorandum of understanding will also encourage international brands to source from Morocco and provide financing to global fabric producers for the development of their activities in Morocco.
On this occasion, the Minister affirmed that “Morocco is resolutely committed to connecting its industry to sustainable development. Through the signing of these memorandums of understanding, we are now beginning an important turning point in the upgrading of the national textile sector and its support in complying with the profound changes experienced by the global textile ecosystem in terms of sustainable development. . It is therefore an important step in our ambition to make Morocco a leading player in the global textile industry of tomorrow”.
And to add: “The objective is to accelerate the transition towards a responsible, green and sustainable textile industry, to gain in competitiveness and to enable our national industrial players to better position themselves in relation to their competitors”.
In addition, the second memorandum of understanding concerns an integrated investment project by the company Reciclados relating to the creation of a new manufacturing unit for recycled yarns, fabrics and clothing. With an investment of 695 million dirhams, this project will ultimately create more than 6,245 direct and indirect jobs.
“Our partnership with the Ministry of Industry and Commerce of Morocco, AMITH and Reciclados Tangier will allow Morocco to develop its flagship textile industry in a sustainable way. IFC is uniquely positioned to help Morocco access the capital and expertise it needs to transition to low-carbon, zero-waste textile production that supports growth and jobs.” underlined Xavier Reille, IFC Director for the Maghreb and Djibouti.
For his part, Anass El Ansari, President of AMITH, specified “We are all aware that the operating mode of textile companies is no longer adapted to the changes the world is currently experiencing. For this purpose, we need circular production models in order to move from a linear system to a closed loop system. The latter allows for more efficient use of resources and large-scale reuse and recycling of materials as well as a reduction in the amount of waste”.
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