France and Morocco reached agreements on Monday totalling “up to ten billion euros”, sources with direct knowledge to the matter told AFP, during French President Emmanuel Macron’s three-day visit to Morocco aiming to mend strained relations.
Several deals were signed in the presence of Macron and King Mohammed VI, with more expected on Tuesday, including on energy and infrastructure.
Macron’s trip was at the king’s invitation late in September, but also follows years of tense ties with Rabat.
A delegation of French ministers and business leaders accompanied Macron, while French and Moroccan flags flew alongside each other in the city’s main thoroughfares.
French Interior Minister Bruno Retailleau, Economy Minister Antoine Armand and Culture Minister Rachida Dati — herself of Moroccan origin — all travelled with the president.
Though specific contract details were not disclosed, French rail manufacturer Alstom is set to supply up to 18 high-speed train cars to Morocco according to the deals signed on Monday.
Energy company Engie and the Moroccan Phosphates Office meanwhile signed a renewables agreement with potential investments reaching up to 3.5 billion euros, according to AFP reporters.
France’s TotalEnergies also inked a deal to develop “green hydrogen” production in the north African country.
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