In addition to Maroto, 11 other Spanish ministers are taking part in the RAN between Morocco and Spain, a summit that seeks to boost bilateral ties through various agreements in different areas

Reyes Maroto: “Marruecos es un socio comercial de primer nivel”

photo_camera REUTERS/SUSANA VERA - The Spanish Minister of Industry, Trade and Tourism, Reyes Maroto

The Spanish Minister of Industry, Trade and Tourism, Reyes Maroto, has travelled to Rabat along with 11 other Spanish ministers and the President of the Government, Pedro Sánchez, to take part in the High Level Meeting (HLM) between Morocco and Spain.

In addition to the political authorities, a large group of Spanish businessmen has also travelled to the Moroccan capital to take part this afternoon in a business forum in which "the first of the agreements to relaunch and strengthen" Spanish-Moroccan relations will be signed, as Maroto said during a press conference in Rabat. 

The agreement, which will be signed by COFIDES and Ithmar Capital, Morocco's sovereign wealth fund, will enable Spanish companies to continue investing in Morocco and to have the necessary financial instruments to be able to consolidate these investments

On the other hand, according to Maroto, two other important agreements and a new financial protocol will be signed tomorrow, through which "the resources that the government makes available to companies to invest in Morocco will be doubled, from 400 to 800 million euros". "We have identified priority sectors in the field of renewable energy, water, desalination, infrastructure and logistics," she said. 

españa-marruecos

In addition to the trade and economic agreements, the minister announced that a MoU (Memorandum of Understanding) on tourism cooperation will also be signed. "Morocco is one of our main source markets. Not only from the point of view of volume, but also from the point of view of Moroccans who have second homes in Spain", Maroto explained. According to the minister, this new MoU will mean "a boost" in tourist flows and "above all, greater cooperation in the area of connectivity", an aspect which, in Maroto's words, "has still not recovered after the pandemic". 

In this regard, the Spanish minister assured that during the HLM, a timetable will be set for the reopening of customs in Ceuta and Melilla. "We have to return to normality", Maroto stressed. The minister also announced that, during the summit, the "good bilateral relationship" between Madrid and Rabat will be discussed.

"Morocco is our main trading partner in Africa and one of the most important from the point of view of our international trade", she stressed. The North African country is Spain's third largest trading partner outside the European Union after the United States and the United Kingdom.

Maroto stressed to the media the "solid economic and commercial relationship" between the two countries. "We are strategic partners at the moment," she said. The trade volume with Morocco exceeds 18,000 million euros between exports and imports. Spanish companies have a strong and relevant presence in the country, especially in areas such as the automotive, food, energy and infrastructure industries.

"The year 2022 has closed with an investment of close to 2,000 million euros, with a very significant impact in terms of job creation", added Maroto. All these figures make the North African country "a first-rate trading partner", as the Spanish minister described it.

With the aim of boosting Spanish-Moroccan ties, 20 agreements will be signed during the High Level Meeting in different areas, such as infrastructure - especially in relation to ports - education and culture. Both Rabat and Madrid have made this summit a top priority, as it has been eight years since a meeting of this kind was held. "It is very important to give normality to these high-level meetings," Maroto pointed out. "The presence of 12 ministers shows that the agenda and priorities are very well covered," she explained. 

"Morocco is not only a neighbour, but is, I insist, a first-rate partner for Spain, and this meeting demonstrates the solid relations that we have and have always had", Maroto reaffirmed.

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