Saudi Arabia and Morocco plan to strengthen their economic relationship, with a focus on trade expansion and sustainable development.
In a significant move to bolster their economic partnership, a Saudi business delegation led by Hassan Moejeb Al-Huwaizi visited Rabat, Morocco last June. The 30-member delegation, which included top investors, aimed to explore investment opportunities and deepen trade relations between the two nations [1][2][3].
The visit marked a pivotal moment in the growing relationship between Saudi Arabia and Morocco, with both countries focusing on agriculture, renewable energy, and sustainable development. This strategic cooperation between the public and private sectors in both nations is geared towards addressing Morocco's agricultural potential and Saudi Arabia’s growing food security needs, as well as supporting sustainable development goals and promoting environmentally responsible investments and infrastructure development [1][4].
In the agricultural sector, the delegation held discussions with Minister of Agriculture, Maritime Fisheries, Rural Development, Water, and Forests Ahmed El-Bouari, who highlighted the significant potential in the agricultural and maritime sectors for cooperation. The Saudi delegation also met with Minister of Energy Transition and Sustainable Development Leila Benali to explore cooperation in renewable energy [1][4].
The services sector, which accounts for 54.2 percent of Morocco's GDP, follows industry at 24.5 percent and agriculture at 11.06 percent. The focus of the meeting with Minister Leila Benali was on exchanging experiences and expertise in the renewable energy sector [1][4].
The bilateral trade volume reached SR5 billion ($1.33 billion) in 2024. Saudi exports to Morocco totaled approximately SR4.3 billion, mainly consisting of cars and vehicles, insulated wires, chemical fertilizers, and women's clothing. Moroccan exports to Saudi Arabia stood at around SR640 million, including refined petroleum, cars and vehicles, vehicle accessories, and wheat. Morocco ranks as Saudi Arabia's 57th largest trading partner by exports and 51st by imports [1][2][3].
The Saudi delegation also met with Karim Zaidan, the delegate-minister to the head of government in charge of investment, convergence, and the evaluation of public policies. Investment opportunities and joint projects contributing to sustainable development were discussed during the meeting [1][4].
The upcoming FIFA World Cups in 2030 and 2034 (Morocco co-hosting 2030) are expected to spur major infrastructure and service sector investments, opening further avenues for joint ventures and private sector participation [4]. Morocco’s ongoing development under King Mohammed VI, supported by a New Investment Charter offering significant tax exemptions and streamlined business procedures, makes it an attractive destination for Saudi investors [1][4].
The growing economic relationship is supported by the Saudi Federation of Commerce's strategy to facilitate investments and broaden cooperation between public and private sectors in both nations. This partnership leverages Morocco’s modernization efforts and Saudi Arabia’s economic stature in the Gulf and the Arab world [1][4].
| Aspect | Details | |--------------------------|----------------------------------------------| | Trade Volume (2024) | SR5 billion ($1.33 billion) | | Saudi Exports to Morocco | Cars, insulated wires, fertilizers, clothing | | Moroccan Exports to KSA | Refined petroleum, vehicles, wheat | | Key Sectors | Agriculture, Renewable Energy, Sustainability | | Investment Incentives | Morocco's New Investment Charter, tax breaks | | Strategic Drivers | Saudi business delegation visits, infrastructure ahead of FIFA World Cups |
Overall, the Saudi Arabia-Morocco economic ties are poised for significant expansion, with substantial investment opportunities in critical sectors that align with their mutual development goals and strategic interests [1][4].
- The Saudi business delegation's visit to Morocco last June aimed to explore investment opportunities not only in trade relations but also in culture, art, and sports, as these sectors hold potential for mutual growth.
- The growing economic partnership between Saudi Arabia and Morocco extends to the sports sector, with the upcoming FIFA World Cups in 2030 and 2034 expected to spur major infrastructure and service sector investments, providing further avenues for joint ventures and private sector participation.
- Local news outlets reported that the Saudi Federation of Commerce's strategy is to facilitate investments and broaden cooperation in various sectors, including business, art, and sports, between public and private sectors in both nations.
- As Morocco embarks on its development journey under King Mohammed VI, backed by a New Investment Charter offering significant tax exemptions and streamlined business procedures, there are increasing opportunities for Saudi investors in areas like technology and green energy, enriching Morocco's art, culture, and sports scene.
- In the delicate dance between economy and weather, both Saudi Arabia and Morocco are striving to ensure sustainable development in sectors such as agriculture, renewable energy, and infrastructure development, while mitigating the impacts of potential climate changes on their economies and cultural heritage.
