España: explorando nuevas oportunidades comerciales en Marruecos
In recent times, Spain has been deepening its trade and cooperation ties with Morocco. This is mainly due to the existence of numerous bilateral agreements between the two countries, related to trade, investment, cooperation and defence. Spain has also increased its diplomatic presence in Western Sahara, a territory historically disputed between Morocco and Algeria.
In 2023, trade ties between Spain and Morocco are expected to further strengthen, leading both countries to further cooperation in key areas such as energy, agriculture, transport and tourism. Trade between the two countries will continue to increase and Spain is expected to benefit from Moroccan investment in Spanish infrastructure. On the other hand, Spain has been regressing in its relations with Algeria. Spanish exports to Algeria have experienced a significant drop since June 2022, when Algiers imposed economic sanctions on Spanish companies over Spain's support for Morocco's autonomy plan for Western Sahara. In January and February 2023, Spanish exports to Algeria amounted to only 17 million euros, a difference of an estimated 1.352 million euros compared to the same period the previous year. Moreover, in February, the export figure fell even further, reaching only 6.2 million euros. This trend will continue in 2023, making trade between Spain and Algeria much less important than trade between Spain and Morocco.
King Mohamed VI of Morocco has expressed his gratitude to Spain for its contribution to Morocco's development, especially in the area of trade. The Moroccan monarch highlighted the fact that Spain is gradually withdrawing from Algeria in 2023, which will allow Morocco to seize the opportunity to increase its trade engagement with the region. The King praised Spain's efforts to improve relations between the two countries and stressed its commitment to the region's development. Mohamed VI also expressed his desire to see greater Spanish involvement in the region, especially in the field of education and culture.
A significant number of Spanish companies present in Algeria are exporters of food and chemical products. These companies have suffered a drastic drop in exports since the closure of the Algerian market in June 2022. They estimate their losses at around 300 million euros. They have approached the Spanish government to demand compensation for their losses and it is hoped that the Spanish government will take measures to mitigate the effects of this situation and thus protect these companies.
The close ties between Spain and Morocco are leading to an improvement in the economy and trade between the two countries. This figure of more than 2 billion euros, 14% more than the same period last year, is an indicator of the prosperity of both economies. This has been achieved thanks to the boost provided by the Moroccan autonomy project in the Sahara, which has been supported by Pedro Sánchez. The growth of Spanish exports to Morocco has also contributed to improving the trade surplus between the two countries, increasing by 34%. The development of this relationship can contribute to greater political and economic stability, improving the quality of life of the inhabitants of both countries.
Thus, the close link between Spain and Morocco is being the catalyst for an improvement in the economy and trade of both countries. Pedro Sánchez's support for Morocco's autonomy project in Western Sahara has contributed greatly to this development..
