Morocco and Mauritania boost joint trade and investments

The National Union of Mauritanian Entrepreneurs (UNPM) and the General Confederation of Moroccan Enterprises (CGEM) have held the third edition of the Mauritania-Morocco Economic Forum, reports Le 360.

The event, which took place last week in Nouakchott, was attended by several important officials from both countries. According to the Moroccan media, the presidents of the UNPM and the CGEM also participated, as well as 300 Mauritanian and Moroccan businessmen.

This meeting aims to identify co-investment projects, especially in the sectors of agriculture, fisheries, agri-food, energy and infrastructure.   

The Mauritania-Morocco Economic Forum also aims to accelerate the pace of the partnership between the two neighbouring countries. This goal was actualised through the creation of a working group by the CGEM and the UNPM responsible for supporting the implementation of investment projects and ensuring their follow-up. 

As revealed by Hamid Chabar, Morocco's ambassador to Mauritania, trade between the two countries reached 300 million dollars (3 billion dirhams) by the end of 2022, an increase of 58 per cent over the previous year. In this regard, it is worth noting that fruit and vegetables account for only 23% of total trade.

For his part, Chakib Alj, president of the CGEM, believes that this forum represents a decisive step forward after the first two editions, which served to identify investment opportunities. The next forum is scheduled to take place in two years' time, according to SNRTNews. 

Agriculture, livestock, fisheries, agribusiness, infrastructure and green energy have great potential for development and will be key issues to be addressed in future meetings, Alj added.  

Similarly, Abdelaziz Taariji, president of the Morocco-Mauritania Business Forum, confirmed that he is raising with his Mauritanian counterparts the possibility of developing cooperation in the field of agriculture. 

Once opportunities for cooperation have been identified, Mauritanian and Moroccan businessmen will have to move on to the next stage: implementing projects. 

Currently, economic relations between Morocco and Mauritania are mainly based on trade. The Kingdom accounts for 30% of Mauritania's trade with Africa, making it the country's largest African trading partner.

The two nations enjoy a strong and close trade relationship. In 2021, Morocco's exports to Mauritania amounted to 282 million dollars (2.82 billion dirhams), according to the Observatory of Economic Complexity. On the other hand, Mauritania's exports to Morocco reached 1.6 million dollars (160 million dirhams) in the same year.