Morocco’s Minister of Industry and Trade, Ryad Mezzour, emphasized the importance of developing new joint ventures and cross-productive units between Moroccan and Spanish economic operators during the Morocco-Spain Economic Forum. The minister stated that it was the responsibility of the economic operators of both countries to strengthen bilateral industrial integration and create mutually beneficial partnerships, co-investments, and joint ventures. Morocco’s industrial platform serves as a bridgehead for companies considering investment or co-investment to reach global markets, and the country’s position as a competitive platform for decarbonation and strong renewable energy competitiveness also contributes to further potential for industrial partnership with Spain.
The Spanish economy absorbs 21% of Morocco’s exports and provides 14% of its imports, while Morocco absorbs 51% of Spanish exports to Africa, making the relationship between the two countries an important one. The Spanish Minister of Industry, Trade and Tourism also highlighted the increase in economic and financial exchanges and the reaching of historic figures in the relationship, particularly in foreign trade.
By developing joint ventures and cross-productive units, both Morocco and Spain can capture new opportunities and provide additional future prospects for their citizens. Morocco’s macroeconomic stability and institutional stability, as well as its status as the second largest investor in Africa and first in West Africa, makes it an attractive partner for Spain to project itself on the African continent. The private sector of Morocco, with its vitality, offers a universe of opportunities in key sectors such as mobility, green transition, and digital manufacturing.
In conclusion, Morocco-Spain joint ventures and cross-productive units are encouraged to be developed by Morocco and Spain working together, which will not only strengthen their bilateral industrial integration but also bring economic benefits for both countries.
