French Minister Franck Riester Highlights Economic Cooperation with Morocco

Friday 05 April 2024 - 08:30

French Minister Delegate for Foreign Trade, Attractiveness, Francophonie, and French Nationals Abroad, Franck Riester, is currently on a visit to Morocco.

On Thursday, the French government official visited the French Chamber of Commerce and Industry in Morocco (CFCIM).

Addressing a gathering of business leaders, economic actors, and journalists, Riester provided insights, in figures, into the economic and commercial cooperation between Morocco and France.

It was revealed that the stock of French Foreign Direct Investment (FDI) in Morocco reached 8.1 billion euros in 2022, and that the amount of financial transfers from Moroccans residing in France amounted to 3.3 billion euros in the same year, representing 32% of the total transfers received by the Kingdom.

It was also reported that France is the second largest trading partner of Morocco in a balanced trade relationship, where since 2017 the Kingdom has enjoyed a trade surplus. This trade surplus amounts to around 600 million euros for Morocco.

Furthermore, the French Development Agency (AFD) has a total exposure of 3.7 billion euros in Morocco.

On the other hand, BPI Export Insurance has an outstanding portfolio of 742.3 million euros in Morocco, of which 600 million euros are in credit insurance.