- 13:25UN Chief Highlights Morocco's Sahara Initiative for Sahel Economic Integration
- 13:15Kamala Harris Targets Disenchanted Republicans in Key Battleground States Ahead of Election
- 13:00Morocco Bolsters Maritime Influence with IMO Council Vice-Presidency
- 12:45King Charles III's Australian Visit: A Royal Encounter Amidst Growing Republican Sentiments
- 12:25Moroccan Buyers Surge to Second Place in Spanish Property Market
- 12:05Kamala Harris Highlights Trump's Campaign Fatigue in New Attack Ad
- 11:40Stellantis Shifts Gears: Morocco's Automotive Boom Raises Questions for European Manufacturing
- 11:25Elon Musk Increases Financial Incentive for Petition Supporting Constitutional Rights
- 11:15Morocco's Human Rights Council Pushes for Enhanced Protections in Strike Legislation
Follow us on Facebook
France Emerges as Leading Investor in Morocco Amid Strengthened Diplomatic Ties
In 2023, France has secured its position as the foremost foreign investor in Morocco, following a landmark decision to acknowledge Moroccan sovereignty over its southern provinces. This diplomatic shift is anticipated to invigorate bilateral cooperation, notably in trade and economic partnerships.
Recent statistics from Morocco's Exchange Office highlight a significant surge in French investment, with net inflows reaching MAD 6.8 billion ($693.6 million), marking a 79.5% increase from the previous year's MAD 3.8 billion ($387.6 million). This accounts for 61.4% of Morocco's total net foreign direct investment (FDI) for the year, as detailed in the office's 2023 annual report.
The strengthening of diplomatic relations has catalyzed economic interactions. In April, the National Institute of Statistics and Economic Studies (INSEE) reported that French exports to Morocco hit a record high in February, totaling €690 million. This figure not only doubles the exports from February 2014 but also underscores the deepening trade ties.
The upward trajectory isn't confined to a single month; overall commercial exchanges between the nations reached a remarkable €14 billion in 2023, nearly doubling the figures from 2015.
On the global front, while the UAE's foreign trade investment in Morocco fell to MAD 2.3 billion from over MAD 2.2 billion in 2022, the UK, Spain, and Germany also contributed with investments exceeding MAD 1.5 billion each. However, Morocco's total foreign direct investment saw a decline, plummeting to MAD 11.1 billion from 23 billion in 2022, due to rising expenditures and reduced revenues.
This evolving landscape marks a pivotal phase in Moroccan-French relations, promising enhanced collaboration across various sectors.