Morocco continues to strengthen its economic and industrial role through co-operation with South Korea
Morocco continues to strengthen its role as a relevant industrial and economic actor in Africa through the promotion of both national and international investments in the nation itself.
Within this dynamic, cooperation with major global economic and industrial actors is important. The Moroccan kingdom has many collaborations with important nations such as the United States, Israel (within the important Abraham Accords that contemplate the cooperation of various Arab countries with the Israeli State), France and Spain (especially after the strengthening of ties brought about by the Spanish-French support for the Moroccan Autonomy Plan for Western Sahara), Germany, etc.
Now Morocco has also set its sights on another world industrial and economic power, South Korea. As part of this strategy, Ryad Mezzour, Moroccan Minister of Industry and Trade, and Chafik Rachadi, Moroccan Ambassador to South Korea, made a working visit to the Asian country to meet with senior executives from South Korea's leading companies and economic and financial institutions.
The objective was to ‘strengthen bilateral cooperation and explore new opportunities for association’, as officially stated by the Moroccan Ministry of Industry and Trade. This is a very important step towards strengthening investment cooperation, a good option for Morocco with a view to continuing to develop its economy and its national industrial fabric in various sectors to the maximum.
The main meetings of the Moroccan authorities were held with personalities such as Kim Hyeon Suk, CEO of Nexen Tire, to discuss investment opportunities in the tyre manufacturing sector and the expansion of the company in Moroccan territory, Sean Chung, executive vice-president of Samsung Engineering, to ‘explore possible cooperation in the energy, infrastructure and engineering sectors’, Yoon Jin Sik, president of the Korea International Trade Association (KITA), with a view to ‘strengthening trade relations and promoting mutual investment’, or with Lee Yong-bae, president and CEO of Hyundai Engineering, to ‘explore prospects for cooperation in sustainable transport and railway infrastructure development’, as indicated by the Moroccan Ministry of Industry and Trade itself.
These meetings form part of the ongoing efforts to reinforce Morocco's position as a regional industrial and commercial centre and to support the Kingdom's industrial development and energy transition ambitions.
It is also important for Morocco to seek economic and industrial partnerships and direct investment in the Moroccan kingdom in order to continue developing its economy and its industrial and business fabric with the intention of continuing to reinforce its role as an important centre in Africa and increasingly in the world.
في إطار زيارة العمل التي يقوم بها إلى جمهورية كوريا، عقد وزير الصناعة والتجارة، السيد رياض مزُّور، بحضور سفير المملكة المغربية لدى كوريا، السيد شفيق رشادي، اليوم في العاصمة سيئول سلسلة من الاجتماعات مع كبار مسؤولي الشركات والمؤسسات الاقتصادية الكورية، بهدف تعزيز التعاون الثنائي… pic.twitter.com/YT2fElda99
— Ministry of Industry & Trade - Morocco (@mcinetgov_ma) April 7, 2025
The New Investment Charter promoted by King Mohammed VI within the national strategy for economic and industrial development plays an important role in this strategy. This initiative envisages billions of euros being dedicated to promoting both national and foreign investment within the country and also provides for attractive tax exemptions to promote business and the simplification of bureaucratic procedures for any type of company and anywhere in the country.
A strategy that undoubtedly means the generation of wealth and the creation of national employment, all focused on promoting the prosperity of the Moroccan kingdom.
