Rabat – The economic partnership between Morocco and France is solid and forward-looking, Minister of Economy and Finance, Nadia Fettah, said in Rabat on Tuesday.
‘The positive momentum between the two countries bears witness not only to the strength of economic relations, but also to the shared desire to go even further,’ said Fettah at the opening of the Morocco-France Entrepreneurial Meeting dedicated to strategic sectors.
‘We want to intensify our projects, particularly in forward-looking sectors such as information technology, sustainable mobility, agri-industry, and healthcare,’the Minister added, recalling that France is already a leading partner in key sectors, notably automotive, aeronautics, energy and infrastructure.
These sectoral successes demonstrate that ‘our partnership is not just an economic issue, but also an industrial success that echoes our shared aspiration,’ Fettah said.
The Minister also said that the two parties’ vision goes beyond the two countries’ borders, adding that ‘with Fr
ance, we have the unique opportunity to build together a new model for economic cooperation, based on coo-petition, meaning cooperating while maintaining a sane competition.’
Fettah also recalled that Morocco, under the leadership of HM King Mohammed VI, has always had a strong African ambition, reaffirming the firm conviction that ‘the future of our nations is also being played out on the African continent.’
She highlighted the continent’s assets and the ‘extraordinary’ potential of African businesses, adding that this dimension enables the exemplary partnership and win-win economic cooperation between Morocco and France to set itself up as a reference model for building and strengthening the Euro-African space, on solid, healthy and lasting foundations.
Trade between Morocco and France reached 163.1 billion dirhams in 2023, up 2.8% compared to 2022 and 34% to 2019.
France is Morocco’s second-largest trading partner, accounting for 14.2% of overall trade, and ranks second as a customer (20.3%) and third
as a supplier (10.6%).
In terms of foreign direct investment (FDI), France will have invested 11.3 billion dirhams in Morocco by 2023. Moroccan investment in France reached a record level of 15.1 billion dirhams in 2023, an increase of 28% on the previous year.
In addition, some 1,300 subsidiaries of French companies are established in Morocco, making the country the leading African destination for French FDI.
Source: Agence Marocaine De Presse