On October 24, 2017, Qin Hengde, President of Sinochem Agriculture Business and CEO of Sinofert, and Mohamed Belhoussian, Executive Vice President of OCP Group, signed a five-year Memorandum of Understanding (2017-2021) in Shanghai. According to the MOU, Sinochem will be the exclusive agency for distributing OCP’s phosphate rock and diammonium phosphate (with exceptional channels agreed upon by both companies). The total volume is about 5 million metric tons and the prices will be determined in consideration of the market prices. This agreement will be executed by Sinofert on behalf of Sinochem.

Qin Hengde said the qualities of Moroccan phosphate rock and diammonium phosphate are very high and they can play a very important and supportive role to help China’s agricultural production, food security, product supply, product quality improvement and environmental protection. Besides, this agreement also demonstrates that the China-Africa cooperation is getting more intensive under the strategic guidance of the Belt and Road” initiative. Mohamed Belhoussian said that OCP and Sinochem are long term strategic partners and OCP highly values Sinochem and the Chinese market. This MOU will enhance the development of the strategic partnership and contribute to the bilateral trade between Morocco and China.

Sinochem and OCP enjoy a solid foundation and a long history of cooperation. The two companies will continue to deepen and expand the cooperation, & to achieve mutual development, progress and win-win, so as to strengthen the strategic partnership between the two companies while contributing to the bilateral trade of China and Morocco and to provide support to China’s food security and agricultural development.

Feng Mingwei, Vice President of Sinochem Agriculture Business, and the operational teams of both companies were present at the signing ceremony.