Morocco-Spain: Renewing Economic Partnership to Seize New Opportunities

“It is necessary to go further and renovate the economic partnership between Morocco and Spain, to seize the new opportunities available to both countries, especially in view of the complementarities between our two economies in various sectors such as agriculture, tourism, industry, and renewable energy,” said Alj who was speaking at the General Assembly of the Morocco-Spain Economic Council (French acronym CEMAES).

This General Assembly is being held a few weeks after “the historic turning point in relations between our two countries,” he observed, highlighting Morocco’s and Spain’s historic, natural, strong, and resilient ties which are “reflected in our economic and trade cooperation.”

In this regard, Alj recalled that Spain has been Morocco’s first trading partner, customer, and supplier for eight years in a row, while trade between the two countries has doubled over the past 10 years, with exports to Spain totaling €7.3Bln in 2021 and imports amounting to €9.5Bln.

More than 700 companies with Spanish capital are established in Morocco, which is now one of the most attractive and reliable investment destinations, thanks to the progress made under the reign of HM King Mohammed VI, he said.

Created at the initiative of the CGEM and the Spanish Confederation of Employers’ Organizations (CEOE), CEMAES is a business council that brings together entrepreneurs and economic organizations of Morocco and Spain wishing to develop a common economic space.

Source: Agency Morocaine De Presse