Morocco/Mauritania: Businessmen to explore joint investment opportunities

Moroccan and Mauritanian businessmen will meet on Sept.20 in Casablanca to discuss joint ventures and partnership projects in agriculture, energy, agri-food business, pharmaceutical industry and finance.

The meeting is organized by the General Confederation of Moroccan Enterprises (CGEM) and the National Union of Mauritanian Employers (UNPM).
The event aims to strengthen economic and commercial cooperation between the two countries and to spur a new impetus to relations between the two business communities.

The framework of cooperation between Rabat and Nouakchott is set out by a Joint Committee. During its latest session held in Rabat in March, the committee agreed to step up cooperation in agriculture, animal production, fishing, tourism, urbanism, vocational training…

According to projections of international financial institutions, Mauritania’s GDP growth, which reached 2.4 pc in 2021, is expected to pick up to 4.7 % in 2022 and 4.2% in 2023, spurred by production of iron ore and gold and by investment in offshore gas fields that will begin production towards the end of the forecast period.

A large drop in iron ore prices will push the current account into deficit in 2023, but gas exports should then allow a surplus to re-emerge. However, the country remains vulnerable to shocks such as a longer Covid-19 pandemic, security risks in the Sahel region, protracted conflict in Ukraine, and drought-related risks that could lead to lower economic activity and an increase in poverty.