Economic synergies between Morocco and Italy take on importance
Morocco and Italy are two countries that have been cooperating together for years. Relations between the two nations are becoming increasingly stable, with major diplomatic agreements being made to address common challenges. "The 'historic and solid' relations that exist between Morocco and Italy must be developed and strengthened to better serve the interests of the two countries," El Hassan Daki, president of the Kingdom's Public Prosecutor's Office, said a few months ago.
The relevance that the Alawi country is beginning to take on at the international level is not going unnoticed by other economies, and Italy, for example, has wanted to congratulate the Kingdom's work in the world and in the Alpine country. "Investments and economic and industrial synergies between Morocco and Italy are becoming increasingly important," said Ana Maria Danieli, president of the Italian employers' section of Confidustria in Udine, at a meeting in Morocco on investment opportunities.
Likewise, Youssef Balla, Moroccan ambassador in Rome, highlighted and praised the opportunities offered by the Moroccan economy, which he said is characterised by a significant opening up to the outside world. In turn, the ambassador recalled that this is due to the important reforms being carried out in the Kingdom to improve the business climate and economic support for companies investing in the country.
"The value chains of the two countries must come closer together," Balla commented during the meeting about relations between Morocco and Italy.
Yasmine Sbihi, representative of the Moroccan Agency for Investment Development (AMDI) also took advantage of the forum to review the image of the Kingdom at the international level, in addition to highlighting that the Maghreb country has several sectors with high growth potential, as is the case of automobiles and aeronautics.
The representative of AMDI pointed out that in addition to its political stability and the possibilities it offers to investors, its proximity to Europe is one of the main strengths that could lead to the creation of major bilateral partnerships, especially with a country like Italy, which may be interested in the characteristics offered by the Kingdom.
"Both regions are part of the Mediterranean basin and can therefore serve as mutual missionaries in Europe and Africa," commented Omar Moro, President of the Tangier-Tetouan region. In his speech, he also explained his desire to cooperate with the Italian regions as "a strong desire for exchange and sharing in the framework of decentralised international cooperation", he concluded.
For years, many other powers, especially European ones, have been interested in Morocco in order to invest safely and quickly, to produce large profits. Many experts in the economic sector have argued that the Kingdom has put in place a legal framework that offers great advantages to foreign capital and foreign businesses. This has led EU countries, or even Turkey or the United States, to enact several free trade agreements with the Kingdom.
Another of Morocco's strengths in recent years is the New Model of Development (NMD) plan, which will improve the lives and economic quality of Moroccans, and which also serves as a launching pad for foreign trade. Placing human capital at the centre of the national economy's concerns has meant that efforts are beginning to be made in many sectors.
Among them, infrastructure, the automotive sector, aeronautics, telecommunications, agriculture and industry stand out as the most highly valued sectors in the Moroccan market and are attracting the most investment from international powers. They recognise that investing in Morocco means an opportunity to grow and open a path in the international market in a safe and secure way that allows them to increase business.
It should be noted that Morocco's geographical position is of great importance as it serves both as a gateway to Africa and the Middle East, including Europe, as well as an opening to the Atlantic Ocean and to invest in the American continent.
