Morocco is aiming to double its economic exchanges with Kuwait in line with the aspirations of the two countries, Morocco’s ambassador to Kuwait, Ali Benaissa, said on Sunday.
Speaking at the opening of the two-day Kuwait-Morocco Economic Forum, organized in the Kuwaiti capital by the Moroccan Agency for Investment and Export Development (AMDIE) and the Moroccan Exporters’ Association, Benaissa said the event serves as an important platform to strengthen bilateral trade relations and open new avenues of cooperation through partnerships between Moroccan and Kuwaiti companies.
The ambassador commended the depth of bilateral relations and the historical ties binding the two countries, stressing the importance given to economic cooperation.
He pointed in particular to projects financed by Kuwaiti institutions, companies, and investors who continue to benefit from Morocco’s diverse investment opportunities across multiple sectors.
Held in partnership with the Kuwait Chamber of Commerce and Industry, the forum brought together business leaders from both sides.
The Moroccan delegation included about 30 representatives from leading companies active in production and export sectors.
Benaissa noted that Kuwaiti investments in Morocco have grown significantly over the past three years, reaching $1.5 billion. He also reported that trade exchanges recorded their highest growth rate since 2018 in the past two years.
Moroccan exports to Kuwait stood at more than MAD 216 million ($24 million), while Kuwaiti exports to Morocco totaled nearly MAD 1.3 billion ($140 million).
Highlighting Morocco’s promising opportunities for economic institutions and investors, the diplomat pointed to progress made in major projects. He also underlined the 2030 FIFA World Cup, which Morocco will co-host with Spain and Portugal, as a catalyst for large-scale investments, particularly in infrastructure.
According to Benaissa, Morocco continues to improve its business climate through the implementation of the new investment charter, simplified administrative procedures, and financial and tax incentives, aimed at attracting investors and boosting the competitiveness of local companies.
The forum seeks to promote Morocco’s investment prospects, strengthen economic partnerships with Kuwait, and broaden trade horizons through B2B meetings.
The program includes presentations on investment opportunities in Morocco and its export offerings, covering a wide range of products and services such as olive oil, honey, argan products, traditional clothing and textiles for children, cosmetics, pharmaceuticals, IT services, and agricultural goods.
MWN with MAP
