The heads of government of Spain and Morocco, Pedro Sánchez and Aziz Akhannouch, close the Spanish-Moroccan economic forum on the sidelines of the High-Level Meeting

Las patronales de España y Marruecos relanzan sus relaciones comerciales

photo_camera PHOTO/AP - Spanish Prime Minister Pedro Sanchez at the closing of the Spanish-Moroccan Economic Forum in Rabat, Morocco, Wednesday, Feb. 1, 2023

Spanish and Moroccan business leaders met on Wednesday in Rabat on the eve of the twelfth High Level Meeting (RAN) to stage the resumption of their trade relations. It is the first meeting of this kind held by the two countries in eight years, a context that the businessmen wanted to take advantage of to seal the bilateral reconciliation also in the economic field. 

The General Confederation of Moroccan Business (CGEM), the Spanish Confederation of Business Organisations (CEOE) and the Moroccan-Spanish Economic Council organised the meeting as soon as it became known that the RAN would take place at the beginning of February. The meeting was attended by Spanish and Moroccan business leaders and ministers from both governments.

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The absence of the CEOE president, Antonio Garamendi, who cited medical reasons, was notable. In his place, the vice-president, Miguel Garrido, represented the employers' association and emphasised the "firm will" of both countries to continue to strengthen bilateral relations through this "long-awaited" visit. Garrido recalled that Spain is Morocco's leading supplier and customer, and the Maghreb country is Spain's main trading partner on the African continent.  

The director of the General Confederation of Moroccan Companies noted "the enthusiasm of businessmen from both countries. An enthusiasm that demonstrates the importance we attach to Morocco-Spain economic cooperation and the determination to give it a new impetus". Chakib Ali stressed that trade between the two countries had increased "with a double-digit growth rate" despite a "delicate situation" in reference to the consequences of the pandemic and the war in Ukraine. 

"Despite the satisfactory results, we have to set the bar higher, and our meeting today is a new start towards a renewed economic partnership and a neighbourhood model," Alj added. In the framework of the Spanish-Moroccan economic forum, the ministers and business leaders of the two countries also pledged to promote "new economic alliances", and to focus on new horizons with the reconfiguration of value chains and to open up to third markets.

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The parties also agreed on highlighting the "solidity" of trade and economic ties, judging by the growing development of trade between the two countries, which exceeded 17 billion euros in 2021. In her speech at the forum, the Moroccan Minister of Economy, Nadia Fettad Allawi, pointed out that 30% of Spanish investments in Africa are captured by Morocco. 

The Moroccan Prime Minister, Aziz Akhannouch, received the President of the Government, Pedro Sánchez, at Rabat-Salé airport in the early afternoon. From there, the heads of government departed for the business forum, which they were both scheduled to close. Both will co-chair the High-Level Meeting that begins tomorrow.

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