Morocco, Spain cement their renewed bilateral partnership

Morocco, Spain cement their renewed bilateral partnership

Morocco and Spain signed 20 cooperation deals as they look towards a closer economic alliance after improved ties.

The deals were signed at the end of the 12 high-level joint committee co-chaired by head of the Moroccan government Aziz Akhannouch and his Spanish peer Pedro Sanchez.

The cooperation deals cover migration, employment, vocational training, infrastructure, water resources, social security, health, education and culture.

Pedro led a delegation of 12 Spanish ministers to Morocco where he attended the closing of a business forum aimed at exploring business opportunities between the private businesses in the two countries.

Renewable energies and green hydrogen as well as coordinating on supply chains taking advantage of geographic proximity were raised by Moroccan and Spanish businessmen.

Morocco and Spain are better placed to “build an economic alliance,” said Finance Minister Nadia Fettah Alaoui, noting a growth in bilateral trade to 17 billion last year.

She said some 800 Spanish companies operate in Morocco, the first trading partner for Spain in Africa and the first destination of Spanish FDIs to the continent.

Morocco could serve as a launchpad for Spanish firms looking to do business in Africa, she said.

Industry minister Ryad Mezzour, who was also speaking at the business forum, said Morocco and Spain could combine their supply chains to be the most competitive in the world in fields such as the automotive sector.

Spain has rolled out a credit line worth 800 million euros to promote investments in Morocco.

Speaking at the closing of the event, Prime Minister Aziz Akhannouch welcomed the strengthened cooperation between the two countries based on trust and mutual respect.

He lauded in particular the decision to reverse the flow of the gas pipeline and energy cooperation, while calling for more investments in clean energy.

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