Morocco highlights economic leadership at US-Africa Business Summit in Angola

Tuesday 24 June 2025 - 08:50

By: Dakir Madiha

Morocco highlights economic leadership at US-Africa Business Summit in Angola

Karim Zidane, Morocco's Investment Minister, is representing King Mohammed VI at the 17th US-Africa Business Summit, which commenced in Luanda, Angola. The event brings together over 1,500 participants, including African heads of state, ministers, economic leaders, and private sector representatives, to foster strategic partnerships between the United States and Africa’s emerging economies.

Morocco’s strategic presence

Leading a prominent delegation, Zidane is accompanied by officials from key organizations such as the Moroccan Agency for Investment and Export Development (AMDIE), the National Office of Hydrocarbons and Mines (ONHYM), and the National Railway Office (ONCF). Representatives from the General Confederation of Moroccan Enterprises (CGEM), MEDZ, MARSA Maroc, and major banks are also part of the delegation.

This participation aligns with King Mohammed VI’s vision to deepen Morocco’s economic ties with African nations and global partners. Moroccan representatives are spotlighting reforms under the new Investment Charter, designed to boost the country's attractiveness through incentives, subsidies, and tax exemptions for businesses.

Promoting economic sectors and renewable energy

Morocco is showcasing opportunities in strategic sectors such as renewable energy, automotive manufacturing, aeronautics, agro-industry, and green technologies. The country has achieved remarkable progress in renewable energy, with more than 40% of its energy mix coming from solar and wind power. Landmark projects like the Noor solar plant in Ouarzazate have positioned Morocco as a leader in sustainability.

In the automotive sector, Morocco has developed a robust ecosystem, hosting global manufacturers like Renault and Stellantis alongside over 250 key suppliers. This sector has become the nation’s top export industry.

A key player in global trade

Morocco’s unique position in global trade is bolstered by its free trade agreements with both the United States and the European Union, making it one of only nine countries worldwide with such dual access. These agreements provide investors preferential access to two of the largest global markets.

The free trade agreement with the US, effective since 2006, has significantly enhanced bilateral trade, which grew sixfold from $1.3 billion in 2006 to $7.2 billion in 2023. US exports to Morocco rose by 37.3% in 2024, reaching $5.3 billion, while imports from Morocco totaled $1.9 billion, marking a 12.3% increase.

Driving foreign investment

Morocco’s efforts to attract foreign direct investment (FDI) are yielding results, with FDI increasing by 55% in 2024 to $1.64 billion. The country’s robust economic policies and privileged global partnerships continue to position it as a gateway for investors seeking opportunities in Africa and beyond.

The summit underscores Morocco’s role as a bridge between continents, combining its strategic geographic location, dynamic reforms, and commitment to innovation to cement its reputation as a driver of sustainable growth and regional stability.