Morocco’s General Confederation of Moroccan Business (CGEM) and its Spanish counterpart the CEOE will hold a joint economic forum on the sidelines of the high level meeting on February 1st, to promote new partnerships.
The organization of this forum will be an opportunity for both countries to consolidate economic and trade relations and develop new partnerships between Moroccan and Spanish companies. It will help accelerate the pace of investment and co-investment in priority sectors.
This event will be attended by high-level officials and business leaders from both countries. In addition, Aziz Akhannouch, Head of Government and his Spanish counterpart, Pedro Sanchez, are also expected to attend the closing ceremony.
“Spain and Morocco have decided that the twelfth high-level meeting will take place on 1 and 2 February in Rabat,” the Spanish Ministry of Foreign Affairs had announced.
This meeting aims to promote the agreements signed in various sectors and strengthen relations between the two neighboring countries, which have a relationship based on full cooperation and collaboration in different areas.
This is the most important bilateral summit between the two countries in the last eight years, the last being held in 2015 in Madrid.
As Mohamed Benchaib, CEO of Bank of Africa Europe, recalled, Morocco is Spain’s gateway to the African market. The Kingdom alone represents 50% of Spanish exports to the African continent, according to data published by ICEX.
Benchaib had assured, during a conference held in Spain in November, that the new law on private investment should be an incentive for Spanish investment in Morocco to take off immediately.
“We want companies to open in Morocco, but not to close in Spain. We want to co-locate, not relocate,” he said in his speech.
“In terms of attracting foreign companies, Morocco has a long-term policy, and this always has good results,” said the director of relations of the largest federation of Andalusian entrepreneurs and those of Sebta and Melilla, Miguel Guardiola Villamarín, in the same conference.
He added: “this has taken them from 130th place in Doing Business magazine to 50th”.
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