CASABLANCA, Morocco--(BUSINESS WIRE)--Casablanca Finance City (CFCA), the panafrican financial center based in Casablanca, Morocco, sealed today a strategic partnership with the Korean financial center Busan International Financial City (BIFC).
Under the terms of this signed agreement, in order to promote and
develop their common interests, the BIFC Promotion Center and CFCA
expressed their willingness to strengthen their cooperation in multiple
Both parties have agreed to enable the sharing of expertise, and to work together in order to develop a financial hub specialized in maritime finance, derivatives market, back-up centers.
CFCA and BIFC’s Promotion Center will also cooperate in order to attract
financial institutions, regional headquarters of multinationals, holding
companies, and professional services operators.
They will also support companies from each jurisdiction to develop the business. CFCA will support South Korean companies willing to do business in Africa and aims at becoming the platform for regional headquarters planning to expand in the region. The BIFC Promotion Center will do the same for Moroccan companies (major companies and financial institutions) willing to develop their businesses in South Korea.
Furthermore, both financial centres will collaborate on other activities for the promotion of the areas of cooperation above, including assistance in welcoming business and financial delegations, joint organization of seminars, and mutual exchange of information subject to the prior written consent from the other Party.
Mr. Said Ibrahimi, CEO of CFCA said: “We have a lot in common. Not only a strategic geographical location-we both are at the crossroads of two major sea routes- but also our key positioning as regional financial Hub. This MoU will therefore aim at merging our channels of expertise and know how, while promoting investment opportunities in both directions”
Mr. Young Ho Park, Head of Busan International Financial City Promotion Center, Busan Economic Promotion Agency, said: “This MOU is significant in that it will help us to strengthen our cooperation with Casablanca Finance City across continents to share the experience and knowledge on policy schemes of these two promising financial cities.”
About Busan International Financial City’s Promotion Center
The Busan International Financial City Promotion Center was established by Busan Metropolitan City Government in 2008 and is under the umbrella of the Busan Economic Promotion Agency. The BIFC Promotion Center supports Busan City to grow into a global financial center specialized in maritime finance, derivatives market, and back-up centers. It aims at promoting Busan as an attractive Financial Hub for global financial institutions. BIFC Promotion Center’s missions include financial industry research, the establishment of a financial city base, the cultivation of financial manpower and financial city promotion.
CFCA is a public-private partnership dedicated to positioning Casablanca
as an international economic and financial center and a premier gateway
into African market for financial institutions, headquarters of
multinational corporations and professional service firms. Casablanca
Financial City Authority is empowered by law with the overall management
and promotion of Casablanca Finance City.
Additional information about CFC can be found at www.casablancafinancecity.com |Twitter: @casafinancecity | LinkedIn: http://www.linkedin.com/company/casablanca-finance-city