José Ignacio Pino de la Chica: ‘Morocco can greatly help Spanish companies enter West Africa

The Morocco-Spain Economic Council (CEMAES), created on the initiative of the Spanish and Moroccan business confederations, brings together businesspeople and economic organisations from both countries who wish to develop a common economic area. 

The representative of this body at the 2025 edition of the IMEX Madrid fair was José Ignacio Pino de la Chica, its co-vice-president, as well as representative of the Moroccan bank Attijariwafa Bank in Spain. 

From the Morocco-Spain Economic Council, CEMAES, what are your expectations for this edition of IMEX Madrid, which also has Morocco as its guest of honour? 

Indeed, Morocco is the guest of honour at this edition. It is always a pleasure for CEMAES to be at IMEX Madrid, accompanying our friends from different institutions and organisations, such as the Spanish Chamber of Commerce in Tangier and the Tangier-Tetouan-Al Hoceima Regional Investment Centre. We are looking to give a further boost to relations between Spain and Morocco, which are good but could be better. This forum is a fantastic place to continue and influence Spanish companies to develop their businesses, in this case in northern Morocco.  

What role has CEMAES played since its creation in 2013 in promoting trade relations between Morocco and Spain? 

CEMAES was created under the auspices of the two royal monarchies and we also have the support of the two business confederations: CEOE and CGEM. Ultimately, what CEMAES seeks to do is to generate the kind of lobbying that other countries such as France do very well and which we lack a little in Spain. What we want is to bring together all the organisations and associations, reach agreement and defend Spanish companies in Morocco, in their tenders, in their projects, in their businesses... And the same for Moroccan companies, which are also starting to arrive in Spain. CEMAES wants to be that lobby. 

Morocco is a key trading partner for Spain, as demonstrated by the number of Spanish companies setting up in Morocco. How does this period of excellent diplomatic relations between the two countries influence business?  

Obviously, it has an influence. Since our country changed its policy towards Morocco and certain sensitive issues in Morocco, Spain has aligned itself with them, and things have obviously changed. From a diplomatic point of view, relations are excellent, and this is helping economic and trade relations to also gain momentum and for us to be taking that share, in addition to important tenders in Morocco that are being awarded to Spanish companies. And why is this? Because there is a good relationship at the political level that helps it to then land on the commercial side.  

In an interview we conducted with the president of CEMAES a few months ago at a Doing Business event in Barcelona, he commented that beyond the significant figures for economic exchanges between Spain and Morocco, it is necessary to take a step further, to have common interests, to increase investment in Morocco with guarantees such as the Investment Charter, tax advantages and Morocco's privileged geostrategic position as a gateway between Europe and Africa. Is it possible to take this leap? 

Absolutely. I think Spain is doing very well from a commercial point of view, with trade already reaching 24 billion. These are incredible figures. We look to France in the rear-view mirror when it comes to trade, but not when it comes to investment. We have a long way to go. It is estimated that there are around 800,000 companies doing business and Spanish companies with projects in Morocco, but for me, the IBEX 35 is not present in Morocco. And that is the step we need to take. I believe that we are at the right moment, and I continue to insist: Morocco is Africa. Spain has to start looking at the fact that Africa is right next door and that there are many opportunities to collaborate with African countries in their development. Morocco, which is very knowledgeable about West Africa in particular, can greatly help Spanish companies to enter the market and do good business or projects in that area. 

And within Morocco, the northern region, 14 kilometres from the Spanish coast, with 80% of the population speaking Spanish, with tax advantages and facilities for setting up businesses... does this make it the ideal gateway? 

Without a doubt. Tangier has it all. What's more, it's a region that has improved greatly from all points of view: logistics, infrastructure... Personally, I love Tangier. It's a city where you feel at home, just 14 kilometres from Algeciras, and it has everything a Spanish company needs to set up there, including the language, which is a big plus. What happens in Tangier can be replicated in Casablanca or Agadir, and you are sure to do very well, but it is true that it is more difficult to find people who speak Spanish there. And this is the basic difference between setting up in northern Morocco or in other parts of the country. 

And finally, in addition to being a representative of CEMAES, you are also the representative in Spain of Attijariwafa Bank. What role does this bank play as a link between Spanish companies and Morocco? 

I recently joined Attijariwafa Bank because I strongly believe in African markets and the Moroccan market. I believe that Spanish companies need to move towards Africa, towards Morocco, and our bank wants to accompany them. We are a pan-African bank, we are present in 16 African countries, and for a Spanish company, being able to offer local services to help with local financing and local needs is a plus that no other bank can offer at the moment. Our fundamental role, my role, is to support Spanish companies that want to carry out projects both in Morocco, which is easier because we know each other, and in other African countries.