Morocco and Portuguese textile company Valerius Texteis have joined forces to bolster the country’s textile sector and promote sustainable development. The agreement, which was signed during the Portugal-Morocco Economic Forum in Lisbon, is set to cost 1 billion Moroccan dirhams and will be a major boost to the Moroccan economy.
Valerius Texteis, which already has a presence in Morocco, will launch a new textile recycling project as part of the deal. The project is expected to create 1,500 jobs and will be a game-changer for the country’s textile industry.
The Portugal-Morocco Economic Forum was attended by key stakeholders from both countries, including 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. The agreement builds on the existing economic cooperation between the two nations, with a joint Economic Council already established in Casablanca in 2021.
The textile industry is a vital component of Morocco’s economy, and the new project by Valerius Texteis will significantly enhance the sector’s sustainability. Textile recycling is a rapidly growing area in the industry, and this new project will provide a much-needed boost to the country’s economy, creating jobs in collection, sorting, and processing.
Morocco has been striving to promote economic growth and development in various sectors, including agriculture, mining, tourism, and the textile industry. This latest agreement with Valerius Texteis is a major step forward, and the sustainable textile recycling project will undoubtedly have a profound impact on the sector and the wider economy.
The new partnership is a testament to the strong ties between Morocco and Portugal and their commitment to sustainable development. It is an excellent example of how international cooperation can benefit economies, create jobs, and promote sustainable development.
With the new textile recycling project set to create 1,500 jobs and contribute to the country’s economic growth, this agreement is a significant milestone for Morocco’s textile sector and the wider economy. Valerius Texteis and Morocco are leading the way in sustainable textile production, and their partnership is a beacon of hope for a more environmentally conscious future.