- Saudi delegation visits Morocco to explore investment and trade ties.
- Talks focused on energy, infrastructure, industry, and new tech.
- Bilateral trade reached MAD 26.4B in 2024 under the Arab Free Trade pact.
Morocco's Minister of Industry and Trade, Riad Mezzour, received a high-level Saudi economic delegation led by Hassan bin Mujeb Al-Huwaizi, the President of the Federation of Saudi Chambers of Commerce, on Tuesday in Rabat.
The visit is aimed at enhancing the bilateral economic relationship between Morocco and Saudi Arabia, and seeks to discover new investment opportunities in Morocco by promoting and advancing trade between the two nations, while also reinforcing collaboration across different industrial sectors.
In a press statement following the discussions, Al-Huwaizi emphasized the delegation's goal to establish enduring business connections with Moroccan economic players and to investigate the numerous opportunities Morocco presents in vital sectors such as energy, infrastructure, industry, services, and new technologies.
On this occasion, both sides acknowledged the strong ties that connect them and decided to elevate trade levels to reflect the capabilities of both nations, while also enhancing the exchange of knowledge and skills.
Mezzour emphasized the dynamic changes Morocco is experiencing, particularly in renewable energy, infrastructure, and industrialization, under the wise guidance of His Majesty King Mohammed VI. He emphasized that this path enhances the Kingdom's appeal as a regional center for local and international investment.
Mezzour also highlighted the significance of this economic mission, which unites representatives from more than 25 Saudi firms across various sectors, showcasing a collective ambition to strengthen economic connections and foster a mutually beneficial partnership.
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Both sides also emphasized the importance of working together to leverage Morocco's economic prospects in light of the 2030 World Cup and Saudi Arabia's role in hosting the 2034 World Cup.
Conversations highlighted the forming of industrial partnerships, which could emerge in sectors such as food processing, chemicals, plastics, mechanical engineering, electrical engineering, mining, and paper and cardboard manufacturing.
This visit emphasized both parties' commitment to strengthening trilateral economic discussions while taking into consideration the European Union and a range of world partners to create a sustainable, holistic, and profitable collaboration.
Trade relations between the two countries are governed under the Greater Arab Free Trade Area Agreement, and the trade volume between the two reached MAD 26.4 billion in 2024, compared to 24.6 billion in 2023.