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Strengthening Economic Bonds: Morocco and Mauritania Forge Ambitious Investment Plans
The burgeoning trade and investment relationship between Morocco and Mauritania have reached new heights, as diplomatic and business leaders from both nations gather this week to bolster economic cooperation.
According to figures released by the Moroccan Embassy in Mauritania, trade volumes between the two North African countries surged by an impressive 58% in 2022, reaching a total of $300 million. Notably, fruits and vegetables constituted nearly a quarter of the total bilateral trade last year.
To capitalize on this momentum, the third Mauritania-Morocco Economic Forum commenced on February 21st in Nouakchott. Over 300 entrepreneurs from both countries, alongside high-level representatives including the presidents of the National Union of Mauritanian Employers and the General Confederation of Moroccan Enterprises, have convened to explore avenues for deeper collaboration.
Several key sectors have been identified for enhanced cooperation, including agriculture, livestock, fisheries, agribusiness, infrastructure, and renewable energy. These sectors are perceived as ripe for significant growth, and a joint task force established by the respective business associations aims to support investment projects from inception to implementation.
Chakib Alj, president of CGEM, hailed the forum as a "decisive step" following earlier editions that laid the groundwork for fruitful cooperation. He expressed optimism that the next bilateral business conference, scheduled for 2024, would yield even more substantial results.
Abdelaziz Taariji, head of the Morocco-Mauritania Business Forum, emphasized the close collaboration between his organization and Mauritanian counterparts to foster agricultural partnerships.
While trade currently serves as the cornerstone of bilateral relations, Moroccan exports to Mauritania amounted to $282 million in 2021, whereas Mauritanian exports to Morocco stood at $1.6 million. As entrepreneurs shift their focus towards translating opportunities into tangible ventures, both Morocco and Mauritania are poised to significantly deepen their robust economic ties.
