A high-level delegation from the Federation of Saudi Chambers of Commerce started an official visit to Morocco Sunday,seeking to strengthen economic cooperation and explore new investment opportunities between the two kingdoms.
The delegation,led by Federation President Hassan Al-Huwaizi,includes more than 30 Saudi investors and representatives from various government agencies. The visit aims to open new horizons for trade and investment cooperation,with planned meetings between Saudi investors and Moroccan economic officials and operators.
Both sides anticipate the visit will generate concrete partnerships and strengthen the already robust economic relationship between the two Arab kingdoms.
The initiative aligns with Saudi Vision 2030 objectives,which focus on diversifying the national economy,strengthening international economic partnerships,and attracting quality investments. Saudi investors seek to conclude commercial agreements and partnerships with Moroccan counterparts across targeted economic sectors.
Trade relations between Morocco and Saudi Arabia have experienced remarkable growth in recent years. Bilateral exchanges increased dramatically from 5 billion Saudi riyals ($1.33 billion) in 2021 to 16.4 billion riyals ($4.37 billion) in 2022,representing a 228% surge that demonstrates the untapped potential between the two markets.
Morocco currently ranks 26th among Saudi Arabia’s export trading partners and 38th for imports. The exchange is primarily driven by oil and petrochemical products from Saudi Arabia,while Morocco exports agricultural and fishery products,automotive parts,textiles,and various industrial chemical products.
The Federation of Saudi Chambers has conducted official business visits to 17 countries in recent months,reflecting the Gulf kingdom’s strategic vision to develop global trade and investment links.
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