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Rabat – Spanish automobile component manufacturer Antolin has announced plans to boost its investments and expand its footprint in Morocco, where it already operates a factory in the city of Tangier, a Spanish business news outlet reported on Monday.
“Morocco is undoubtedly one of the most attractive countries in Africa and the Maghreb,” said Antolin’s Vice President Maria Helena Antolin in an interview with CincoDias.
She expressed her confidence in the North African country’s economic stability, robust infrastructure, “significant economic incentives for investment,” as well as favorable geopolitical positioning for trade between Europe and Africa. She also highlighted Morocco’s remarkable GDP growth.
In addition, the company underlined Morocco’s “abundant and increasingly skilled workforce,” noting its cost-effectiveness compared to Spain and other European nations.
Antolin sees great potential in utilizing Morocco as a production platform for both local manufacturers and customers from across the world.
The company’s Vice President participated last month in a Spanish-Moroccan forum, during which she praised the existing free trade agreement between Spain and Morocco, which facilitates tariff-free commerce in components between the two countries, El Pais reported.
Read also: Morocco’s Automotive Industry Achieves Record Exports of MAD 44 Billion
Data from Spain’s Ministry of Industry and Trade reported a staggering surge in automotive trade between Morocco and Spain over the past decade, added the Spanish outlet.
Export of cars and components to Morocco has soared by 292% since 2012, reaching €1.74 billion (MAD 19 billion) in 2022.
Likewise, Spain’s imports of components and vehicles from Morocco have increased by an impressive 789.8% during the same period, reaching €743.5 million (MAD 8.1 billion).
Antolin established its presence in Morocco in 2005 with the inauguration of its subsidiary Antolin Tangier, which produces a wide range of automotive components, including sun visors, window regulators, lighting components, and roofs.
The facility caters to renowned automobile brands, including Renault, Nissan, Stellantis, Volvo, Daimler, and Jaguar Land Rover.
The Moroccan automotive sector has witnessed significant growth in recent years, positioning the country as one of Africa’s leading manufacturing hubs.
