A Thriving Economic Partnership between Morocco and Spain
Nadia Fettah, the Minister of Economy and Finance, highlighted the strategic dimension of the partnership between Morocco and Spain, stating that the 13th High-Level Meeting (HLM) is part of a dynamic aimed at further strengthening this bilateral cooperation.
Trade Exchange: Sustained Growth of 59% Since 2019
In an interview with the newspaper El Economista, the Minister emphasized that trade exchanges between the two countries have recorded an average annual growth of nearly 9% over the past decade. Moroccan imports from Spain amount to approximately 11 billion euros, while Moroccan exports are around 9 billion.
Priority Sectors with High Value Creation Potential
Fettah identified several strategic partnership areas, including energy—where Rabat and Madrid share a common vision of energy sovereignty and decarbonization—as well as textiles, agro-industry, services, technologies, and finance. She reaffirmed a mutual commitment to enhance value creation across all these sectors.
Three Major Fiscal Advantages to Attract Investments
The Minister reminded stakeholders of the advantages Morocco offers in terms of fiscal attractiveness:
a clear, stable tax framework guaranteed for five years;
modern and efficient infrastructure;
a strategic geographical location, serving as a gateway to Africa and an export zone to Europe.
A Dynamic Environment Favorable to Moroccan and Spanish SMEs
Fettah emphasized the importance of intensifying relations between SMEs in both countries, highlighting the new Investment Charter aimed at businesses with revenues between 100,000 and 5 million euros. She noted the cultural and geographical proximity as a lever for internationalization for these entities.
Tanger Med: A Maritime Hub at the Heart of Euro-Mediterranean Trade
The Minister also underscored the strategic position of the Tanger Med complex, connected to over 180 ports in 70 countries, and its central role in the Mediterranean maritime corridor, essential for the Moroccan and Spanish economies.
A More Resilient Moroccan Economy
Fettah stated that Morocco has strengthened its resilience to crises through the institutionalization of budgetary discipline and the increasing diversification of its economic fabric.
A Reliable Partner for the United States and the European Union
Recalling that Morocco enjoys U.S. customs benefits, the Minister believes that this recognition demonstrates the Kingdom’s reliability. She also praised the growing integration with the European Union, noting that trade has increased from 10 billion euros in the early 2000s to nearly 60 billion today. She highlighted Morocco’s gradual alignment with European health and phytosanitary standards, opening access to a market of over 300 million consumers.
Significant Nearshoring Potential, Particularly in Pharmaceuticals
According to Nadia Fettah, Morocco offers substantial opportunities in nearshoring, particularly in the pharmaceutical industry, where integrated production chains can generate significant added value for both economies.
