Morocco and Spain welcome economic relations under the slogan of integration

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Dynamism, integration, commitment, and a mutually beneficial relationship are the strengths of the economic relationship that exists between Morocco and Spain, which has evolved, diversified and modeled cooperation over the years. Future oriented. 19 inches, the two countries are inspired by the geographical proximity, the presence of a strong Spanish entrepreneurial organization in Morocco, and benefit from the kingdom’s positive investment climate and diverse bilateral trade flows for commercial exchange. Succeeded in giving new vitality to Spain.

Bilateral economic partnerships, supported by political and strategic relations, have allowed the two countries to maintain sustainable trade dynamics and to implement high-value-added joint development projects.
Trade between Rabat and Madrid has doubled in the last decade and has grown at more than 10% annually since 2011. This proves that Spain has been Morocco’s leading supplier and customer for eight years. According to data released by the Spanish Embassy in Rabat, Morocco exported about 7.3 billion euros to Spain in 2021, an increase of 14.6% compared to last year. Meanwhile, Morocco imported € 9.5 billion from Iberian countries, recording growth of 29.2%.

These indices represent 3% and 2.1% of the world share of Spain’s imports and exports, respectively. The trade curve between the two countries has been on the rise since 2016, with exports to Spain reaching 6.37 billion euros (6.96 billion euros in 2019) and imports of 7.35 billion euros (84) in 2020. It reached (150 million euros). 2019). He praises the importance of integration and wealth creation between the two countries, which will benefit both peoples.

For Madrid, the stability and prosperity of both countries are “inseparably linked.” Spain’s Foreign Minister Jose Manuel Alparis recently said, “Spain and Morocco are united by history and geography. Both countries are associated with trade of more than 16 billion euros, and Morocco is Spain’s third largest non-EU. It is an economic partner. “” Explain that these exchanges continue to develop. Despite the “Covid-19” epidemic, he said, “Spain’s exports to Morocco will be 29 in 2020/2021. % Increase, 17,000 Spanish companies do business with Morocco, 700 companies have been established in neighboring countries, and more than 800,000 Moroccans are alive. ” .. In Spain, they are fully integrated and contribute to our prosperity. »»

For Hoda Benghazi, Secretary of the Moroccan-Spanish Economic Council, trade between the two countries is characterized by three fundamental elements: harmony, quality and balance. It has been going on for over eight years, and outside the European Union, Morocco is Spain’s third-largest customer, surpassing only the United States and the United Kingdom. He added that the two countries have become allies of partnerships based on high value industries, and the equivalence of imports and exports is becoming more and more balanced.

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