The Wall Street Journal once said that Morocco is leading Africa in the automotive industry.
Rabat – Morocco is emerging as a Africa’s leader in automotive production. .
According to the news outlet, trade exchange between the two countries increased by 37.14 percent in the first nine months of 2018. The number represents an estimated value of $1.01 billion against $740 million recorded in 2017.
The increase in trade exchange was due to a 41 percent rise in Saudi exports to Morocco to MAD 8 .54 billion.
Moroccan exports to the Gulf country also increased by 10.4 percent due to demands for passenger vehicles from Saudi Arabia.
According to the news outlet, the overall value of Moroccan exports to the Gulf country stood at $105 million.
Moroccan petroleum products, like fuel from the Gulf country..
Moroccan and Saudi Arabian relations are allegedly tense due to the Saudi position on the Western Sahara conflict.
Earlier this month, a Saudi government-owned news outlet aired a documentary against Morocco’s position in the regional conflict over the Sahara.
The documentary prompted Moroccan observers to demand that the Moroccan government reconsider diplomatic ties with the Gulf country.
International media reported that Morocco recalled its ambassador to Saudi Arabia due to the tension. However, Morocco’s Minister of Foreign Affairs denied any tension with Saudi Arabia, emphasizing that Morocco has special channels to announce such news if needed.
Morocco leads Africa in automotive industry
In October 2018, the Wall Street Journal scooped Morocco’s leading position in Africa in the automotive industry. The business journal said that Morocco emerged as the continental leader, surpassing South Africa with 345,000 passenger vehicles in 2017 over South Africa’s 331,000.
The journal added that Morocco is a key supplier for world-renowned automobile factories, including Ford.
Morocco’s balanced automotive market managed to attract several renowned automotive firms, including the Renault and Peugeot.
Renault has more than 40 percent of the market share in the region with two assembly plants, according to the Wall Street Journal.
In January, Renault Group positioned itself as a major industrial hub in Morocco by manufacturing 402,155 cars in 2018, including 318,600 units in Tangier and 83,550 in Casablanca.