Trade exchange between Morocco and Spain surges by 22%

Trade exchanges between Spain and Morocco have surged by 22%. The Minister of Equipment and Water of Morocco, Nizar Baraka, shared this data, confirming that the distance between these two countries, separated by just 14 kilometers, is shrinking.

Participants at the forum emphasized that renewable energy and tourism development will further strengthen this bond in the coming years.

“Our bilateral relations are stronger than ever,” added Minister Baraka. Spain is Morocco’s top trading partner and also its primary supplier. 

“We have learned that together we are stronger, and together we can work wonders,” concluded the Moroccan minister. 

He further emphasized that in the future, both countries could significantly enhance their trade links through the development and production of renewable energies on both sides of the Strait.

These statements were made at the Spain-Morocco Economic Forum organized by ‘La Razón’ in Madrid, attended by around a hundred individuals, including authorities, association representatives, and both public and private companies.

During the forum, special attention was given to the new energy reality that connects the two countries and the potential for further growth in the coming years through the promotion of renewable energies.

Following the diplomatic crisis with Algeria, the gas pipeline between Spain and Morocco began operating in reverse, with natural gas being pumped from Spain to the neighboring Maghreb country. This arrangement helped alleviate the energy issues faced by Morocco due to the conflict in Ukraine over the past year.

Morocco has the potential to become a global leader in renewable energy production, thanks to its significant advantages in solar and wind energy. Moundir Zniber, the director of Gaia Energy, summarized this prospect stating that “Morocco could become the Saudi Arabia of green energy.”

Electricity, green hydrogen, and ammonia could become products that Morocco can export massively and at reduced prices to Europe through Spain in the coming years.

The Spanish Minister of Industry, Héctor Gómez, concluded the forum, acknowledging the strong political and economic relationship between Spain and Morocco and emphasizing the “extraordinary bonds that unite us.”