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Economy

Spain Targets Morocco as Key Focus for Business Expansion and Investment

Tuesday 30 January 2024 - 09:12

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Morocco has emerged as a top destination for Spanish companies seeking international expansion, as highlighted by Spain's Secretary of State for Industry, Rebeca Mariola Torró Soler.

Addressing a prestigious business forum in Barcelona on Monday, Soler emphasized Morocco's favorable investment climate and skilled workforce, positioning it as an attractive choice for industrial and energy investments.

"Morocco, with its competitive business environment and emerging sectors, presents significant potential for Spanish companies," Soler stated. "As friends and neighbors, our two countries are dedicated to fostering mutual development and successful partnerships."

Soler underlined Spain's commitment to becoming Morocco's leading foreign investor, aiming to enhance investment activities to capitalize on the country's strengths.

Already enjoying robust trade links, Morocco stands as Spain's largest trading partner, with over 17,600 Spanish firms currently exporting goods to the Moroccan market.

Soler expressed confidence that ongoing dialogue and cooperation will further expand these economic ties in the future. "We aspire to be the foremost investor in Morocco," she emphasized.

With Morocco gaining prominence as a priority for Spain's international business agenda, companies across various sectors can anticipate benefiting from exploring opportunities in the Kingdom. Spain seems poised to reinforce its presence in Morocco, aligning with both countries' efforts to boost investment and commercial ties.