Marruecos y Arabia Saudí se unen para fomentar un nuevo sistema industrial

Ryad Mezzour, Moroccan Minister of Industry and Trade, and his Saudi counterpart, Bandar bin Ibrahim al-Khorayef, met virtually and agreed on several points that once again demonstrate the cooperation between Morocco and Saudi Arabia. The conference ended with the creation of a roadmap under the framework of an industrial system. The aim of this roadmap is to implement a number of agreements that will increase investment opportunities to generate value and jobs, as well as a series of joint projects that will put the two countries in a more advantageous position on the international market. 

Within these projects between the two kingdoms, it is highlighted that they will be mainly aimed at ideas that suggest innovation, human capital and that show the competitiveness of the two nations to position themselves as a great bet for the international market. 

On the Moroccan side, Mezzour stressed that the Alawi kingdom wants to focus on the diversification of its products and exports. Al-Khorayef, for his part, also wants to invest in this sector of the economy. Al-Khorayef said that diversification of materials and foreign sales is part of the Saudi Vision 2030 programme.

In addition, the aim is to strengthen trade between the two territories. The two nations have always maintained good contact, but since 2013, exchanges have declined considerably as each has decided to export a number of products. The Saudi minister explained that his country has always focused on exporting oil and plastic products in order to introduce them into production chains and thus enhance industry and trade in this sector.

Mezzour, following this, wanted to call on several Moroccan economic actors to take charge of consolidating this relationship between the two territories and to show the great potential of the two parties to work together. "The Moroccan government shows its full support for this partnership, as well as the particular interest it has in its development and promotion at the height of our potential and the expectations of our two peoples," said the minister. 

The meeting also highlighted the great opportunities offered by the two parties to each other. Al-Khorayef stressed that Morocco offers enormous potential to his country in key sectors such as the automobile industry, which has recently experienced a recovery after the downturn caused by the pandemic. 

He also took the opportunity to praise Morocco's agricultural sector. Agriculture in Morocco, following recent world events, is booming, and Saudi Arabia has put its focus on this to satisfy its population with quality products, as well as to take advantage of the enormous potential that can come from investing in this sector. 

Another of the topics highlighted during the meeting was the creation of a maritime line. Morocco and Saudi Arabia joined forces a few years ago on this route, which is capable of strengthening trade, as well as giving importance to the work of the logistics and trade system. It was also recalled that, by working together, they could reduce the costs of maritime transport that exist at the moment and facilitate all types of operations.

In addition, a congress called the Moroccan-Saudi Business Forum is being held in the city of Jeddah. Here, the great opportunities for the two countries to cooperate are being presented, thanks to what each offers the other, which perfectly complements each other's mutual interests. It is worth noting that Morocco is the 54th largest exporter to Saudi Arabia, while Saudi Arabia is the 10th largest exporter to the North African nation.

Today, it is recalled that Morocco has around 240 Saudi investments in the country through companies and businesses. Saudi Arabia, for its part, has 11 Moroccan investments, generally in the industrial and sugar sectors.