Rabat – Thanks to its economic dynamism and position as an emerging country, Morocco has become the favorite destination of Spanish companies looking for investment and business opportunities.
Morocco’s geographical proximity and partnership relations with Europe and its growing economy evolving with major structuring projects has sparked the interest of many companies in the different regions of Spain in Morocco. This enthusiasm explains Spain’s position as Morocco’s leading trading partner, its first supplier and its first customer.
Economic missions keep multiplying thanks to the efforts of the Chambers of Commerce and the institutions responsible for international promotion in several autonomous regions of the Iberian country, reports the MAP.
The institutions in charge are keen to highlight the importance of the Moroccan market and the investment climate that the Kingdom offers, not to mention its high-level infrastructure, its emerging industrial fabric, and its financial system, one of the best advanced in Africa.
Some of the factors making Morocco attractive are the major structural projects launched in Morocco, in particular the Tanger Med platform, the high-speed railway construction site, renewable electricity production complexes, and integrated industrial programs, in particular those in the aeronautics sector and the automobile sector.
The kingdom’s security and political stability, which are reinforced by the strength of the macroeconomic balances also play an essential role in promoting Morocco as the future’s major African economic hub.
Javier Celdran, Director of the Development Institute of the Murcia region, responsible for promoting Murcian enterprises abroad and organizing an economic mission to Morocco from May 7 to 14, underlined the importance of strengthening trade relations with Morocco, a “strategic market” for businesses in the region, reports the MAP.
Nine Murcian companies operating in diverse sectors such as agri-food, building and construction materials, chemical industry, water technology and logistics transport are to attend this trade mission, which is not the only of its kind planned for May. A delegation of Basque business and economic operators is also expected to visit Casablanca this May 8-2, with the aim of strengthening trade links between the two parties and prospecting the business and cooperation opportunities offered by the Moroccan market.
This trade mission, organized by the Chamber of Commerce, Industry and Services of the province of Alava (Basque Country), in collaboration with the Chambers of Commerce of Bilbao and Guipúzcoa, will be attended by companies operating in several Sectors, including infrastructure, logistics, renewable energy, automotive and agri-food. Other visits from Spanish companies are also on the program, including two trade missions organized by the International Expansion Institution (Institex).
In fact, the last few weeks have already been marked by a strong activity concerning the strengthening of links between operators and Spanish and Moroccan companies. In the last week of April, companies from the region of Cantabria visited the city of Tangier to explore opportunities for business and cooperation.
The strong presence of Spanish companies in the Moroccan market is an important component of the multidimensional partnership between Morocco and Spain, which is expected to be more consolidated in the upcoming years given the growth of the Moroccan economy and Spain’s economic strategies for international development.
