Morocco is already a destination for investment, reassures the Moroccan ambassador to Mexico.
Agadir – Morocco’s Ambassador to Mexico Abdelfettah Lebbar highlighted Morocco’s position as a ”destination for investment” to Mexican stakeholders during a video conference on February 3.
Mexican Minister of Economy Tatiana Clouthier and Economy Secretariat Undersecretary for Foreign Trade Maria de La Mora also participated in the talks that focused on developing economic and trade cooperation between the two countries, according to a post on the embassy’s Facebook page.
Speaking of investment opportunities, Lebbar highlighted Morocco’s economic and infrastructural development, especially in terms of ports, airports, and highways, as well as the political and economic stability in the country.
This is already visible across Morocco. Dakhla, in the country’s southern provinces, is on the path to become a strategic and international hub when it comes to renewable energy. The US is set to invest over $3 billion (MAD 28 billion) into Morocco over the course of the next four years.
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Lebbar also proposed to organize a virtual conference for Moroccan businesspeople and their Mexican counterparts, to open up investment opportunities and help facilitate cooperation between the two parties. Such a meeting would help establish partnerships and exchange experiences, with the view of organizing a direct meeting when the global health crisis will allow.
For her part, Clouthier welcomed Morocco’s economic progress, while expressing her determination to improve working relations with the country. The minister hopes to encourage Mexican investments in Morocco.
The renewed determination for improved economic ties comes in the wake of the establishment of the Morocco-Mexico Friendship Group on September 19, 2020. A statement from Morocco’s embassy in Mexico City noted that the founders of the friendship group include personalities from the political, economic, academic, and cultural spheres.
The friendship group drew attention to the historic ties between the two countries as far back as 1962. As such, King Mohammed VI’s visit to Mexico in 2004, along with Mexican President Vicente Fox’s return visit to Morocco in 2005, both demonstrated the two countries’ shared willingness to strengthen diplomatic ties.