March 28, 2023

Spain’s Industry, Trade and Tourism Minister Reyes Maroto announced Wednesday in Rabat that her ministry will double the credit line for Spanish investment in Morocco from €400 million to €800 million, focusing on areas such as renewable energy, water, innovation and tourism.

And the minister said, according to the Spanish News Agency, at the opening of a business forum to be held on Wednesday in Rabat to start the Spanish-Moroccan high-level meeting, that investments will focus on the areas of renewable energy and water, in addition to desalination, infrastructure , logistics, industry, innovation and tourism.

She added: “Morocco is one of our main export markets.”

“We are strategic partners,” she said, adding that trade with Morocco exceeds 18 billion euros between imports and exports, noting that more than 600 Spanish companies are present in Morocco.

“For us, Morocco is a first-level trading partner after the US and the UK and the third partner outside the European Union,” she added, emphasizing the need for these high-level meetings.

A high-level meeting between Morocco and Spain begins on Thursday, chaired by Prime Minister Aziz Ahannoush and his Spanish counterpart, Pedro Sanchez.

The meeting between Morocco and Spain will be attended by more than ten Spanish government ministers from various sectors.

And the Spanish news agency EFE reported that about 20 bilateral agreements in several areas will be signed during the meeting.

The upcoming summit will be defined by a “road map” dating back to the April 7 joint statement on the sidelines of the meeting between King Mohammed VI and Pedro Sanchez, which included 16 points to strengthen relations between the two countries.

The Spanish government described the upcoming meeting as “historic” and the Spanish Prime Minister stressed the “importance” of the meeting to give new impetus to bilateral cooperation.

In the same context, Spain’s King Felipe VI confirmed that the upcoming high-level meeting between Morocco and Spain would deepen the “wide-ranging bilateral relationship.”

This high-level meeting has not taken place since June 2015. The entry of Frente POLISARIO leader Ibrahim Ghali into Spain in the spring of 2021 with forged documents led to an acute crisis between the two countries, which eventually led to the Spanish government declaring its support for the Moroccan proposal in the Sahara.

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