Saudi Business Delegation Explores Investment Opportunities in Morocco
Marrakech – A high-level delegation from the Federation of Saudi Chambers of Commerce (FSC) began an official visit to Morocco on Sunday.
The delegation, led by FSC President Hassan Al-Huwaizi, includes more than 30 Saudi investors and representatives from various government agencies.
The visit aims to strengthen economic cooperation and explore new investment opportunities between Rabat and Riyadh, according to the Saudi Press Agency (SPA).
Both sides hope this visit will open new horizons for trade and investment cooperation. The Saudi delegation also plans to hold meetings with Moroccan economic officials to highlight investment opportunities and incentives in Morocco.
The Saudi investors seek to conclude commercial agreements and partnerships with their Moroccan counterparts in targeted economic sectors.
This initiative aligns with Saudi Vision 2030 objectives, which focus on diversifying the national economy, strengthening international economic partnerships, and attracting quality investments.
Trade relations between Morocco and Saudi Arabia have grown significantly in recent years. Bilateral exchanges increased from 5 billion Saudi riyals ($1.33 billion) in 2021 to 16.4 billion riyals ($4.37 billion) in 2022, representing a 228% growth.
Morocco now ranks 26th among Saudi Arabia's export trading partners and 38th for imports. The exchange is primarily driven by oil and petrochemical products from Saudi Arabia, while Morocco exports agricultural and fishery products, automotive parts, textiles, and various industrial chemical products.
The FSC has conducted official business visits to 17 countries in recent months, in line with the Gulf country's strategic vision to develop global trade and investment links. The Moroccan visit follows a similar mission to Mauritania as part of the same regional outreach effort.
Read also: Morocco's Construction Giant TGCC Expands to Saudi Market Tags: investment opportunities in Moroccomorocco saudi arabia
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