Spain Plans to Invest € 45 Billion in Morocco by 2050 (Pedro Sánchez)

22 February 2024
Spain Plans to Invest € 45 Billion in Morocco by 2050 (Pedro Sánchez)

Spain plans to invest around 45 billion euros in Morocco by 2050, President of the Spanish government, Pedro Sánchez, announced Wednesday in Rabat.

“Spain is a key partner of Morocco with expected investments of 45 billion euros by 2050,” Sánchez said during a press conference at the end of his working visit to the Kingdom, welcoming the “positive development” of trade between the two countries.

Sánchez noted that bilateral economic partnership is expected to be further strengthened, particularly within the framework of the joint organization, alongside Portugal, of the 2030 Football World Cup.

He also welcomed the “great effort” made by Morocco to modernize its economy, expressing Spanish companies’ commitment to participate in this development momentum, particularly in the areas of transport, renewable energies and water resources management.

The President of the Spanish Government on Wednesday made a working visit to Morocco, marked by the audience granted to him by His Majesty King Mohammed VI.

This visit follows on from the new stage in bilateral relations, initiated by the meeting between HM the King and the President of the Spanish Government in April 2022, and the adoption, on that occasion, of the Joint Declaration between the two countries.

Source: map

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