Spain and Morocco getting closer

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THE SPANISH city of Bilbao recently hosted a “Morocco Day”, highlighting the economic and investment climate in the Kingdom and the commercial and tourism opportunities available between Morocco and Spain.

The event, organized by the Consulate General of Morocco in Bilbao in partnership with the Spanish Agency for Export and Investment (ICEX) and the Chamber of Commerce of Bilbao, hosted more than a hundred Spanish companies.

Speaking at the opening of the event, Morocco’s General Consul in Bilbao, Kamal El Mahdaoui, outlined Morocco’s favourable investment climate as one of stability, security and credibility.

“Morocco Day” aimed to raise awareness among investors in the Basque region about the economic opportunities in Morocco and attract its investors, reinforcing the efforts of the Moroccan Consulate in Spain to strengthen the economic ties between Morocco and the six regions of northern Spain, explained El Mahdaoui.

The Consul also highlighted the opportunities offered by the positioning of Morocco in Africa, namely its return to the African Union and accession to ECOWAS, but also as a strong partner of the EU, noting that the Kingdom is ranked first in the African continent in terms of investment.

El Mahdaoui stressed the solid commercial links between Morocco and Spain and the substantial volumes of trade with the Basque region in areas such as the automotive, agri-food, agriculture and energy sectors. “These exchanges reflect a desire for partnership at the highest institutional level,” he stated, expressing Morocco’s “interest in creating added value in a win-win approach with the Basque Countries.”

Myriam Pérez, Deputy Director General of Trade Policy with the Mediterranean, African and Middle East countries in the Ministry of Economy, Industry and Competitiveness, pointed out that “Morocco is a leader on the African continent, a position reinforced by its return to the African Union, as well as being a priority partner for Spain.”

Pérez also noted that strengthening the Spanish presence in Morocco is one of the priorities of her department, by using available financial instruments and exploring the opportunities provided by the Full and Comprehensive Free Trade Agreement (CFTA).

Many of the Basque companies based in Morocco, such as Campezo, Sener, Banco Sabadell and Tavex, presented their respective experiences by expressing their satisfaction with their establishment in the Kingdom. These companies welcomed the benefits of investment in Morocco, including the competitiveness of production and labour costs, the political and economic stability of the country, its hospitality, proximity and institutional support.

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