Rabat and Madrid want to maintain the momentum in terms of warming bilateral relations. After an episode of tension, cooperation between the two neighbors has resumed with a vengeance. The high-level meeting, which started this Wednesday in Rabat, aims to establish the strategic and dynamic partnership to which the two countries are committed following the last visit of Pedro Sanchez, President of the Spanish government. In the established roadmap, the two countries had decided to start building a new stage in their bilateral relations. These must be based on the principles of transparency, permanent dialogue, mutual respect and implementation of the commitments and agreements entered into by both parties. The goal is to relaunch the bilateral partnership on a good basis, hence the importance of the high-level meeting, whose work is resuming after an interruption since 2015, which should reflect this new state of mind. The meeting was aimed in particular at taking stock of the implementation of the main points and commitments contained in the roadmap established a few months ago. The two countries want to further strengthen their rapprochement, relying on an approach based on complementarity and the convergence of interests.
This event was chaired by the heads of government of the two countries, Pedro Sanchez and Aziz Akhannouch. The President of the Spanish Government was accompanied by a strong ministerial delegation.
Private operators from both countries also took part in the Morocco-Spain Economic Forum, held early Wednesday evening. Several themes were discussed during this meeting, involving the ministers of the two countries, but also the heads of chambers of commerce, employers, and other actors, who focused in particular on the definition of mechanisms allowing companies from the two countries to seize together the opportunities presented by the reconfiguration of global value chains. Energy transition and the circular economy are also considered key sectors of the economic partnership between the two countries.
Good commercial momentum
Despite episodes of tension, economic relations between Rabat and Madrid have maintained their pace. In 2021, trade between the two countries reached a record 153.8 billion Dirhams (15.38 billion Euros), up 20% compared to 2020 and 6% compared to 2019. Over a decade, this trade has experienced an average annual growth of 8%. In detail, Moroccan exports to Spain have increased by an average of 8.3% per year. This is a faster evolution than that of imports from this country (7.8%) . Today, Spain is Morocco’s largest trading partner, with a 17.9% share of total trade in 2021. It is also Morocco’s largest customer, with a 21.5% share, and its leading supplier (15.7%). Morocco’s share of the Spanish market has also almost doubled over the past decade, to stand at 2% in 2021 compared to 1.2% in 2011.
■ Towards a new generation of partnership
“We are called upon to build a new generation economic partnership”. During the meeting with private operators and representatives of employers from the two countries, the Minister of Finance, Nadia Fettah Alaoui, said that this will allow Spanish companies “to have access to the most efficient gateway to the African market”.
■ Automotive sector: Mezzour wants a common platform
Ryad Mezzour wants to capitalize on the complementarity between Morocco and Spain in the automotive industry. The Minister of Industry underlined that this rapprochement would make it possible to have an “integrated Moroccan-Spanish platform, which could be the most competitive in the world” .
■ The plea of the boss of bosses
In the meeting with Moroccan and Spanish businesspeople, Chakib Alj, president of the CGEM, launched an appeal to examine the opportunities offered by the two markets. “As a business leader, I am convinced that now is the time to invest in Morocco”, he said. The President of employers’ association emphasized a series of priority sectors, in particular the sector of energy transition, in which “Spanish expertise can be of great contribution”. This feeling is shared by Spanish employers, whose officials have called for “taking more advantage of our competitive advantage and our geographical proximity”.
■ 800 million Euros to boost investments
The Morocco-Spain high-level meeting was to be marked by the signing of a series of agreements, including the one mentioned by the Spanish Minister of Industry and Trade, Reyes Maroto. This is a memorandum of understanding for the internationalization of companies and support for investment, amounting to 800 million Euros. Priority sectors have been defined, including renewable energies, the automotive industry, agri-food, logistics, and other sectors. Other agreements were also on the menu, particularly in the tourism sector, with a view to an exchange of expertise.
M.A.M.
