Morocco, Spain Commit to Promoting Trade and Investment in Win-win Partnership

« The two countries are committed to the promotion of trade and investment, for the implementation of joint development projects in the framework of a win-win partnership, taking advantage of the new Investment Charter that Morocco has promulgated, adapted to the institutional, economic, social and political transformations, and aimed at making the Kingdom an international destination for investment, offering real opportunities in strategic sectors, » said the Statement.

Morocco and Spain note with appreciation the remarkable evolution of their economic partnership, which has breathed new life into trade, added the same source, indicating that it is agreed to renew the existing Financial Protocol by doubling the resources available to reach 800 million euros.

Reimbursable and non-reimbursable financial instruments will be used to support projects of priority interest to be developed by the Government of Morocco, particularly in infrastructure, renewable energy, water and sanitation, education and health facilities and productive sectors.

The two countries also stressed the importance of cooperation in projects to decarbonize the economy, which offer great potential for investors.

They also agreed on the need to further develop connectivity and facilitate mobility between the two countries, welcoming their excellent collaboration in the field of water and reaffirming their interest in further strengthening it, especially in desalination, integrated water resources management and wastewater reuse.

Recognizing the need to respond to the current climate emergency and the disastrous impacts of the summer of 2022, both countries reiterate their commitment to the Paris Agreement. They recognize the importance of fostering collaboration on climate change adaptation solutions and promoting effective prevention, anticipation and adaptation measures to increase drought resilience.

They will build on spaces already created with the International Drought Resilience Alliance to accelerate a more coordinated and collaborative global response and the World Meteorological Organization’s SOFF initiative to develop early warning systems.

Spain and Morocco are committed to deepening cooperation in the field of civil protection, which holds great potential for the implementation of joint actions, especially in risk prevention, human resources training and the exchange of knowledge and experience.

In addition, taking into account the lessons learned from the COVID-19 pandemic, both countries are committed to implementing modern border control management. They reiterate their commitment to continue to move forward in an orderly manner towards full standardization of the movement of people and goods, including appropriate customs and people control arrangements at land and sea.

Taking into account the conclusions of the pilot test of January 27, the two parties will continue this series of tests on the agreed schedule to overcome any constraints.

Also, they have committed to continue to progress in the exchange of experiences and best practices in road safety policies and to organize an annual meeting on road safety, alternating in each country.

Morocco and Spain agreed to deepen cooperation in agriculture by formalizing technical collaboration in different areas, including exchange of education, vocational training and agricultural advice, promotion of agricultural investment, sharing of experiences in sanitary and phytosanitary safety, research in water saving, expansion of decentralized cooperation, development of triangular Moroccan-Spanish cooperation in favor of African countries, among others.

Similarly, both countries recognized the need to continue to promote bi- and multilateral initiatives in science and innovation.

They also recorded with satisfaction the signing of an MoU in tourism, took note of the positive assessment of tourism cooperation as part of the follow-up to the implementation of the recommendations of the Morocco-Spain High Level Meeting, and agreed to capitalize on the achievements and continue this development dynamic.

In addition, both parties agree to continue development cooperation by renewing the sectors and diversifying the instruments of Spanish cooperation, within the framework of the New Development Model of Morocco.