Morocco, KSA explore new investment prospects

A high-ranking economic delegation led by the President of the Federation of Saudi Chambers,Hassan bin Mujeb Al-Huwaizi,is currently on a visit to Morocco to explore new investment prospects in the North African country.

The visit is part of the strengthening of economic ties between Morocco and Saudi Arabi,and aims to identify new investment prospects in Morocco,by facilitating and developing trade between the two countries,and strengthening cooperation in various industrial fields.

These subject matters were discussed at a meeting in Rabat Tuesday between the Saudi delegation and Morocco’s Minister of Industry and Trade Riad Mezzour.

Both parties welcomed the excellent relations that unite the two countries,and agreed to raise the level of trade to match the existing potential,and to strengthen the sharing of experience and expertise.

In a joint statement to the press at the end of the talks,Al-Huwaizi stressed the delegation’s ambition to forge lasting business relations with Moroccan economic operators and to explore the many opportunities offered by Morocco in key areas such as energy,infrastructure,industry,services and new technologies.

Mezzour,on his part,highlighted the dynamic transformation Morocco is undergoing,notably in renewable energies,and industrialization. He stressed that this trajectory reinforces the Kingdom’s attractiveness as a regional hub for both domestic and foreign investment.

Mezzour also praised the importance of this economic mission,which brings together representatives of over 25 Saudi companies operating in a variety of sectors,reflecting a shared desire to deepen economic ties and promote a win-win partnership.

Both parties also stressed the need to collaborate to take advantage of Morocco’s economic opportunities ahead of the 2030 World Cup and Saudi Arabia’s hosting of the 2034 World Cup.

Discussions also focused on opportunities for industrial cooperation in high-potential sectors such as food processing,chemicals,plastics,mechanical engineering,electrical engineering,mining,and paper and cardboard manufacturing.

The visit was marked by the two parties’ will to enhance multilateral economic dialogue,particularly with the EU and other international partners,in order to build a lasting,integrated and mutually beneficial cooperation.

Trade relations between the two countries are conducted within the framework of the Greater Arab Free Trade Area Agreement. The volume of trade between the two countries reached MAD 26.4 billion in 2024,compared with 24.6 billion in 2023.