Assahafa.com
Morocco announced that it is exploring new avenues for cooperation, focusing on investment and industrial partnerships.
This comes as part of efforts to strengthen bilateral ties, Morocco’s Minister of Industry Ryad Mezzour said during his participation at the 3rd Africa Trade and Invest Forum in Frankfurt.
During the event, Mezzour held discussions with German industry leaders to discuss opportunities for cooperation in sectors like green hydrogen, automotive manufacturing, and advanced industrial technologies.
“We are witnessing growing interest from German operators, with concrete direct investments in the pipeline, including at least two factories for which negotiations are well advanced,” Mezzour said.
He added that the Moroccan delegation in the event met with promoters and investors behind the project as well as other partners who expressed their investment intentions.
The forum aimed to identify the necessary regulations to boost the presence of German companies in Africa as well as existing financing mechanisms and risk reduction tools.
For Mezzour, the visit was marked by “very enriching exchanges and promising meetings for the industrial and commercial development of Morocco.”
Germany and Morocco share good diplomatic ties, with officials from both countries frequently expressing determination to further boost cooperation at all levels.
In October, a spokesperson from the German federal office reiterated the great importance of cooperation between the EU and Morocco, reiterating his country’s commitment to preserving its close relations with Morocco in all areas.
Data from the German government details the two countries enjoy significant economic and trade relations. “In 2023, Germany ranked eighth among Morocco’s trading partners,” the government said.
Imports from Morocco reached €2.8 billion while exports to Morocco totaled €3.2 billion in 2023.
Nearly 300 companies with German equity are operating in Morocco. Of these, 30 of them have production facilities.
Morocco is also a popular tourist destination for Germans.
The German office said that approximately 5.1 % of foreign tourists were from Germany or 700,000.
Source: Morocco word news
