“Our meeting today is a new beginning towards a renewed Moroccan-Spanish economic partnership and a model of neighborhood,” he said at the forum held on the sidelines of the Morocco-Spain High Level Meeting (HLM), at the initiative of the CGEM, Spanish Confederation of Employers’ Organizations (CEOE) and Moroccan-Spanish Economic Council (CEMAES).
Alj also stressed that the links between the two countries are strong and resilient, recalling that Spain is, for over 10 years, the first trading partner of Morocco, since trade reached about 17 billion euros in 2021, despite a delicate economic situation, and are constantly increasing with annual growth rates in double digits.
He said that 17,000 Spanish companies have trade relations with Morocco and almost 800 are established there, noting that Moroccan investment in Spain is also growing and has the potential to grow further. “Although these findings are satisfactory, we must raise the bar,” said Alj.
The CGEM chairperson noted that the reconfiguration of global value chains, which we are currently witnessing, is indeed a real avenue for growth for the two countries.
“Especially since our economic complementarities and our proximity allow us to build real integrated, sustainable and innovative industrial ecosystems in strategic sectors such as automotive, aerospace, pharmaceutical and textiles,” he added, highlighting the importance of the food security issue, as well as energy transition, water management and health in this partnership.
For his part, the CEOE vice chairperson Miguel Garrido said that this economic forum is a major opportunity for cooperation between the two countries, noting that the Moroccan economy has a significant potential, due mainly to political stability.
He also said that Morocco is a key partner for Spain, and is a gateway to Africa, highlighting the complementarities between the economies of both countries.
Garrido has also called for taking advantage of the competitive advantages of both economies, including geographical and “promote trade opportunities between our respective markets.”
Referring to the role of the Moroccan-Spanish Economic Council, he said it is a key instrument to promote cooperation between Moroccan and Spanish companies and increase their presence in both countries.
This forum aims to promote new economic partnerships between Moroccan and Spanish companies and accelerate the pace of investment and co-investment in priority sectors.
Source: Agency Morocaine De Presse