Written by 12:08 am Economy

Ambassador Karima Benyaich Sheds Light on Structural Nature of Commercial Relation Between Morocco, Spain

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Morocco’s Ambassador to Spain, Karima Benyaich, highlighted, on January 29 in Barcelona, the “structural” nature of the commercial relations uniting Morocco and Spain.

Intervening at a high-level business meeting, organized under the theme “Investing in Morocco, a Competitive Bet to Explore New Markets”, Benyaich noted that “Spain has remained our main commercial partner for more than a decade”, indicating that trade reached around 22 billion in 2023.

In this regard, the Ambassador stated that the Kingdom is consolidating its position as Spain’s third commercial partner outside the European Union (EU), following the United States and the United Kingdom, recalling that more than 20,000 Spanish companies maintain regular commercial relations with Morocco.

On a similar note, Benyaich explained that Spanish investments in Morocco exceed a third of Spanish direct investment in Africa, making the Kingdom a favorite destination for Iberian businessmen, while investments by Moroccan companies in Spain are witnessing a continuous increase in recent years.

The Moroccan official also emphasized the importance of the connectivity network between the two countries.

“Our connectivity has also been consolidated with more than 230 flights and 538 maritime connections weekly, which reflects the growing flow of people and goods between our countries,” affirmed Benyaich, adding that these figures illustrate the complementarity between the economies of Morocco and Spain and pave the way for a “multidimensional strategic partnership” of bilateral commercial relations.

Bringing together more than 200 companies, this business meeting, which took place in the presence of Spain’s Secretary of State for Industry, Rebeca Mariola Torró Soler, was an opportunity for Catalan companies present in Morocco to share their successful experience and the favorable business climate and facilities provided by Morocco and Moroccan administrations.

Morocco is represented at this event by a large delegation, led by the Minister Delegate to the Head of Government in charge of Investment, Convergence and Evaluation of Public Policies, Mohcine Jazouli.

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