Morocco and Spain: two strategic partners with a multi-sector partnership

The Cibeles Palace, headquarters of Madrid City Council, hosted the 23rd edition of the IMEX-Madrid 2025 fair on 19 and 20 February. 

This international business, foreign trade and investment fair focused on the most relevant aspects of various sectors, offering a wide range of information on the economic, investment and foreign trade sectors in a single space. 

Morocco was the guest country at this year's fair and, at the fair itself, the Regional Investment Centre of the Tangier-Tetouan-Al Hoceima Region and the Official Spanish Chamber of Commerce in Tangier-Tetouan-Al Hoceima and Nador organised the event ‘Doing Business in Tangier-Tetouan-Al Hoceima Region’ to showcase the region's territorial, industrial and logistical offer. 

The opening, the first panel, entitled ‘Investing in the Tangier-Tetouan-Al Hoceima region. A business potential open to the world’, featured prominent personalities such as Karima Benyaich, Ambassador of the Kingdom of Morocco to the Kingdom of Spain, Amine El Harti, director of the Economic Promotion and Territorial Offer Pole at the Regional Investment Centre of the Tangier-Tétouan-Al Hoceima Region, Abdelhamid El Hsissen, president of the Economic Commission of the Tangier-Tétouan-Al Hoceima Regional Council, Amal Boussouf, director of the Official Spanish Chamber of Commerce in Morocco, Tangier-Nador, José Ignacio Pino de la Chica, co-vice president of the Morocco-Spain Economic Council (CEMAES), Bouchta El Moumni, president of Abdelmalek Essaadi University, Mohammed Jaouad Arsalane, representative of the General Confederation of Moroccan Companies in the Tangier-Tetouan-Al Hoceima region, Mohammed Zayoun, representative of the Regional Chamber of Commerce, Industry and Services of Tangier-Tétouan-Al Hoceima, and Jaime Ussía Muñoz-Seca, president of IMEX, with Tatiana Estévez, deputy director of the Official Spanish Chamber of Commerce in Morocco, Tangier-Nador, acting as moderator.

Ambassador Karima Benyaich officially opened the ‘Doing Business’ event, which the diplomat herself described as ‘one of the most important fairs dedicated to the presentation of business and investment opportunities in the Tangier-Tétouan-Al Hoceima region’, an area in northern Morocco.

Benyaich emphasised ‘the intensification of the bilateral relationship between Spain and Morocco and the strengthening of the economic ties between the two kingdoms’. 

The Moroccan ambassador also highlighted ‘the excellent political, economic and human relations between Morocco and Spain’. These relations have been strengthened as a result of the new phase with permanent dialogue and a ‘promising roadmap’ covering all sectors. Karima Benyaich also highlighted the High Level Meeting (HLM) held in February 2023 in Rabat, a ‘historic moment with the signing of more than 20 agreements’, and the visit to the Rabati capital of the Spanish Prime Minister, Pedro Sánchez, in February 2024, received by King Mohammed VI. Events that ‘have consecrated an increasingly close relationship’. 

Karima Benyaich also emphasised the ‘deep friendship and human ties that exist between the two countries’, which are ‘two strategic partners with a multisectoral partnership’.

The Moroccan diplomat said that there is permanent political contact focused on ‘making the partnership between Spain and Morocco an international benchmark’. Benyaich highlighted the exemplary mutual cooperation on security, against illegal migration and against terrorism, with a commitment to collaboration for orderly and legal immigration that has a positive impact on the labour market in Spain in sectors such as soft fruits or bus lines. 

For Benyaich, Operation Strait Crossing is another example of this cooperation between administrations, which in 2024 has led to record numbers for this transit system with more than 3 million passengers and almost 900,000 vehicles involved, 9% more than in 2023. 

The economic and commercial links between Spain and Morocco are strong. ‘Spain has been our main trading partner for more than a decade, with more than 24 billion euros of trade exchanges each year,’ the ambassador emphasised. Furthermore, Morocco is Spain's third largest partner outside the EU after the United States and the United Kingdom, with more than 20,000 Spanish companies in contact with Morocco and more than 1,000 companies established in the North African country, as Benyaich explained. 

Furthermore, Morocco is the top destination for Spanish investment in Africa and the Moroccan kingdom is also increasing its investment in Spain, with prominent examples such as the state-owned company OCP and its investment in phosphates. 

Tourism is one of the strengths of this Spanish-Moroccan link. In this sense, Spain is the second largest source market for tourists to Morocco, as the ambassador pointed out. There is growing interest in Morocco and more than a million Moroccans travel to Spain for tourism, as Karima Benyaich pointed out, who emphasised that Morocco has set a record in the tourism sector with 17.4 million visitors received in 2024, which represents an increase of 20% over the previous year. 

Focusing on the Tangier-Tetouan-Al Hoceima region, the ambassador highlighted the ‘cultural richness and hospitality’ of the region, which makes it a first-class destination and a bridge between two civilisations. Highlighting a wide range of investment opportunities in hospitality, leisure, etc., she said:

‘Relations between Morocco and Spain are a benchmark and example of cooperation,’ said the ambassador, who also highlighted the deep friendship between the two Royal Courts with a “strategic alliance between the two Kingdoms”. 

The role of King Mohammed VI is also very noteworthy. ‘Morocco's standing has improved with important reforms in all areas’ under the leadership of Mohammed VI, as Karima Benyaich stated, who highlighted the Alawite monarch's commitment to ‘dynamic and supportive’ South-South cooperation. In fact, Morocco is the leading investor in West Africa. On the other hand, the Atlantic Initiative sponsored by the Alaouite monarch is very important, offering the countries of the Sahel access to the Atlantic Ocean through Moroccan ports ‘for regional inclusion and to transform the conflict-affected Sahel region into an economic area of peace’.

Morocco is a ‘country in full motion with legal certainty and a great business environment’, as the ambassador explained. All this accompanied by a young and trained workforce, a New Investment Charter that favours national and foreign investment and large infrastructures. 

Karima Benyaich emphasised the important role of the Tangier-Tetouan-Al Hoceima region due to its proximity to Spain and Europe. ‘One of the most dynamic areas of Morocco thanks to its location, economic growth and its large port of Tangier Med, the largest in the Mediterranean with a capacity for 9 million containers a year,’ as the ambassador pointed out. 

The Tangier-Tetouan-Al Hoceima region contributes an economic volume that represents 10% of Morocco's Gross Domestic Product (GDP) and is the leading destination for foreign investment. It is an important hub for Spain with regard to investment in many sectors, as the ambassador emphasised. 

The Moroccan diplomat also highlighted the existing ‘project for the future’ with the collaboration for the 2030 World Cup, which unites three countries, Morocco, Spain and Portugal, and two continents with great opportunities for all investors. 

‘Betting on Morocco is a good bet,’ said Karima Benyaich. 

For his part, Amine El Harti, director of the Economic Impulse and Territorial Offer Pole at the Regional Investment Centre of the Tangier-Tetouan-Al Hoceima Region, indicated that Spain and Morocco have developed high-impact projects that contribute to stability, which encourages investment and job creation. ‘Morocco continues to be a remarkable investment market,’ he said. 

Amine El Harti explained that the Tangier-Tetouan-Al Hoceima region has experienced spectacular socio-economic growth, becoming Morocco's second industrial centre. 
Among the objectives of the ‘Doing Business’ event was to publicise business opportunities in the Tangier-Tetouan-Al Hoceima region and to strengthen economic and cooperation relations between Morocco and Spain. In this vein, the Regional Investment Centre seeks to ‘provide the necessary support to make investment a success’ for an investment destination full of opportunities such as this one. 

In his turn to speak, Abdelhamid El Hsissen, president of the Economic Commission of the Tangier-Tetouan-Al Hoceima Regional Council, spoke of stimulating investment and trade relations between the Tangier-Tetouan-Al Hoceima region and Spain in general and the Community of Madrid in particular with a view to boosting their respective economies. 

Abdelhamid El Hsissen emphasised the region's great location, especially the port of Tangier Med, which is ‘a fundamental part of the import and export of goods’. 

Trade between Spain and northern Morocco has grown significantly in recent years, with a Regional Development Plan with a strong focus on investment, notably the NORDEV Regional Investment Support Fund, with opportunities for Moroccan and foreign companies with capital of 1 billion dirhams, some 100 million euros, spread over five years, ‘designed to create local jobs and boost economic ambitions in the region with sustainable development’. Along these lines, ‘21 zones of innovative industrial activities have been created with fertile territories for new projects’. 

Amal Boussouf, director of the Official Spanish Chamber of Commerce in Morocco, Tangier-Nador, emphasised in her speech the importance of mutual relations for the prosperity of both nations. The presence of the Spanish Chamber of Commerce in the northern region of Morocco ‘is a key point for Spanish and Moroccan companies that want to explore new investment opportunities in the region’. The Chamber facilitates the establishment of Spanish companies in Morocco and encourages Moroccan investment in Spain, as explained by Amal Boussouf, who referred to the support and advice given to companies interested in promoting investment.

Amal Boussouf emphasised the need to identify the business niche and to be aware that there is an entry cost and prior learning in the country. ‘You have to choose Morocco after knowing the implementation costs and the incentives that Morocco offers, which are many,’ explained the director of the Official Spanish Chamber of Commerce in Morocco, who also highlighted the ‘importance of personal relationships because they predetermine any commercial relationship in Morocco’.

For his part, José Ignacio Pino de la Chica, co-vice president of the Morocco-Spain Economic Council (CEMAES), explained that trade between Morocco and Spain amounts to almost 24 billion euros.

Spain now surpasses France in terms of trade with Morocco, although the Spanish nation has not yet surpassed the French country in terms of investment. 

CEMAES is dedicated to promoting Spanish companies that want to establish themselves in Morocco and Moroccan companies that want to invest in Spain. José Ignacio Pino de la Chica explained that this organisation is non-profit-making and seeks to lobby to position Spanish companies. 

José Ignacio Pino de la Chica highlighted the ‘spectacular change in Morocco over the last ten years’, citing the example of Casablanca, which has undergone major changes with an impressive seafront promenade, an international airport that has doubled in size and the Al-Borac high-speed train that links Casablanca and Tangier, which has also changed dramatically, with the port of Tangier Med, one of the largest in the Mediterranean. 

In his turn, Bouchta El Moumni, president of Abdelmalek Essaadi University, emphasised that his university, located in the northern region, trains almost a quarter of the engineers in the Moroccan kingdom. He also explained that the Tangier-Tetouan-Al Hoceima region is Morocco's second economic centre thanks to the support and backing of King Mohammed VI. 

Bouchta El Moumni emphasised the ‘extraordinary evolution of the Tangier-Tetouan-Al Hoceima region, which aspires to become the leading economic centre in Morocco’.

Meanwhile, Mohammed Jaouad Arsalane, representative of the General Confederation of Moroccan Companies (CGEM) in the Tangier-Tetouan-Al Hoceima region, explained that the organisation represents employers in Morocco and is present in all 12 Moroccan regions. He also indicated that there are nine commissions created according to key economic sectors in the region. ‘We represent the interests of companies in the region with the aim of promoting regional economic development and improving the business climate,’ said Mohamed Jaouad Arsalane, who emphasised that the Tangier-Tetouan-Al Hoceima region is one of the most attractive in Morocco, just 14 kilometres from Spain and Europe. 

He also pointed out that Tangier Med is the leading port in Africa and the Mediterranean and offers great commercial opportunities. A region that has an important high-speed infrastructure, a remarkable road network and industrial and free trade zones covering 2,500 hectares. 

Mohammed Jaouad Arsalane emphasised the long history of partnership between Morocco and Spain. Spain is one of Morocco's main economic partners and the North African country's biggest trading partner. He also said that the Tangier-Tetouan-Al Hoceima region offers great opportunities due to its location, development initiatives, shared language with Spain and industrial endowment. 

For his part, Mohammed Zayoun, representative of the Regional Chamber of Commerce, Industry and Services of Tangier-Tétouan-Al Hoceima, spoke of the opportunity to consolidate investment opportunities with the ‘Doing Business’ event. Zayoun said that the region represents an example to follow in terms of economic development and is a strategic investment centre for companies both nationally and internationally. 

The representative of the Regional Chamber of Commerce, Industry and Services of Tangiers-Tétouan-Al Hoceima indicated that economic relations between Morocco and Spain have undergone a ‘remarkable development because Spain is Morocco's main trading partner’ and that a forum like this ‘should present new horizons to present new investment options’. 

Mohammed Zayoun pointed out that the Tangiers-Tetouan-Al Hoceima region is one of the most promising regions in terms of investment due to its geographical position, as it is a strategic point linking the two continents and has one of the most important ports in the world. It is a region with great infrastructure and a business environment that attracts investment. 

The Tangiers-Tetouan-Al Hoceima Chamber of Commerce plays a crucial role in consolidating this economic dynamism, accompanying investors to improve the business climate. According to Zayoun, the ‘Doing Business’ forum serves to shed light on important sectors in the region such as industry (automotive, electronics, etc.), which has developed greatly thanks to foreign investment and a highly qualified workforce. 

At the close of the event, Jaime Ussía Muñoz-Seca, president of IMEX, thanked everyone for attending and said he was ‘at Morocco's disposal whenever it wants’.