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The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank (IsDB) Group, signed a partnership agreement with the National Company of Transports and Logistics, SNTL, in the Kingdom of Morocco, under the umbrella of the Aid for Trade Initiative for Arab States (AfTIAS), to launch a Study for the Development of Logistical Platforms for Trade & Investment Facilitation between Morocco and Sub-Saharan Africa.
The signing took place during the Opening Session of the OIC Trade Promotion Organizations (TPOs) Meeting, in Casablanca, Kingdom of Morocco on 11 October, 2017 between Hani Salem Sonbol, CEO, ITFC and Fouad Ktib, Deputy Director General of SNTL.
On this occasion, Eng. Hani Salem Sonbol, CEO, ITFC emphasized: “We aim at reducing the gap of physical infrastructure constraining Trade & Investment flows between Morocco and Sub-Saharan Africa. This signing is under the umbrella of the AfTIAS, but is also at the core mandate of the Arab Africa Trade Bridges (AATB) Program, which is created for bridging the trade gaps between the Arab and African countries”.
ITFC has identified the importance of developing trade hubs in Africa, therefore its involvement in this project will improve trade solutions in Morocco and some SSA countries by reducing logistical costs, and encouraging trade exchanges amongst them.