Morocco and Italy launch second economic summit in Rabat

16:23

By: Dakir Madiha

Morocco and Italy launch second economic summit in Rabat

The second Morocco Italy Economic Summit opened on Tuesday in Rabat, focusing on strengthening trade ties and accelerating investment flows between the two countries.

Organized by the Moroccan Chamber of Commerce in Italy in partnership with the Italian Chamber of Commerce in Morocco, the event aims to translate long standing bilateral relations into concrete industrial partnerships, particularly in high value sectors.

Speaking at the opening, CCMI president Marouan El Mansoub said the strong turnout at the first summit in Rome reflected growing interest among Italian businesses in Morocco’s market. He added that several agreements have already been signed with institutional and economic partners, with more deals under preparation, signaling tangible progress in cooperation.

El Mansoub also highlighted Morocco’s political stability and security as key advantages in a global environment marked by uncertainty, noting that these factors support sustained economic development.

Nihal Azzouz, director of investment at the Ministry of Investment, said Morocco has placed private investment at the center of its economic strategy. The country aims to mobilize 550 billion dirhams in investment and create 500,000 jobs by 2026.

She pointed to Morocco’s structural strengths, including a stable and predictable business environment, advanced infrastructure, and preferential access to markets exceeding one billion consumers through multiple free trade agreements. She also cited the country’s young and skilled workforce as a major asset.

Azzouz emphasized Morocco’s positioning in strategic industries such as automotive manufacturing, aeronautics, and renewable energy. She noted that the new investment charter, adopted in 2022 and implemented in 2023, offers incentives that can cover up to 30 percent of project costs.

According to the ministry, 250 projects have already been approved under this framework, representing 414 billion dirhams in investment and more than 179,000 jobs. Authorities continue efforts to improve the business climate by simplifying administrative procedures and strengthening regional investment centers to better support investors.

The summit is expected to deepen economic integration between Morocco and Italy, reinforcing the Rabat Rome axis as a driver of shared growth across the Mediterranean.