« Our country has built up a world-class infrastructure, exemplified by the Tangier Med port, the leading container port in the Mediterranean and Africa, and has positioned itself as a dynamic player on the economic scene, thanks to a young and skilled workforce, perfectly trained to meet the demands of the labor market, » said Jazouli, at the opening of a high-level business meeting, under the theme »Investing in Morocco, a competitive bet to explore new markets ».
With more than 50 free-trade agreements, Morocco provides access to a consumer market of 2.5 billion people, stressed the Minister Delegate, noting that the Kingdom has not only strengthened its traditional industries, notably agri-food, pharmaceuticals and tourism, making them more competitive, but has also stimulated emerging sectors, including the automotive industry and aerospace.
« A pioneer of the green transition, Morocco is proud to be the leading producer of renewable energy on the African continent, » he said, noting that Morocco, located at the crossroads of the Mediterranean Sea and the Atlantic Ocean, naturally evolves as a regional investment hub and serves as a major gateway to Africa.
Morocco has entered a new phase of development, with the emphasis on promoting private investment, both domestic and foreign, said Jazouli, adding that the aim is to achieve higher-quality growth and create more job opportunities.
To facilitate this vision, he pointed out, the Kingdom adopted an innovative Investment Charter last year, which will further improve the business climate and provide substantial support for investment projects, adding that Morocco is thus well placed to transform current challenges into opportunities.
Indeed, Jazouli noted, Morocco is strategically placed to take advantage of the reorganization of value chains and play an important role in global decarbonization efforts.
On this occasion, the Minister Delegate emphasized the current development of Morocco’s economic relations with Spain in general and Catalonia in particular.
“As the second autonomous community with the highest GDP and one of the most dynamic regions in the country, Catalonia plays a key role in shaping Spain’s economic future, » added Jazouli.
With its robust and highly diversified economy, Catalonia is the driving force behind Spain’s socio-economic development, he said, adding that the Port of Barcelona, which plays a crucial role in the region, complements the outstanding performance of Catalan companies in various sectors, including the automotive industry, agri-food, pharmaceuticals, chemicals, healthcare, transport, tourism and renewable energies, where they have demonstrated excellence over a long period.
The volume of trade between Morocco and Spain has exceeded the 20 billion euro mark for the first time, reflecting a significant rate of growth, noted Jazouli, adding that over the past 20 years, the collective efforts of the two countries have enabled trade to multiply by 5, and bilateral trade has increased by 40% since the adoption of the joint roadmap in April 2022.
