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Monday, March 4, 2024

Morocco, Spain’s ‘Most Important’ Trading Partner in Africa (CEOE)

Due to its strategic position and stability, Morocco is the most important trading partner of Spain in Africa, according to the Spanish Confederation of Business Organizations (CEOE).

“Morocco is our great southern neighbor, gateway to the African continent. Its geographical location, between the Atlantic and the Mediterranean, makes the kingdom a country of crucial importance, both by its proximity to Europe and its location in the Maghreb region,” said the CEOE in a framework note, published on the occasion of the holding, Monday in Madrid, of a Moroccan-Spanish business meeting, with the participation of more than 150 business leaders from both countries.

“The economic ties between Spain and Morocco, favored by geographical proximity and regular official contacts, generate an intense commercial activity and investment,” added the same source, recalling that the bilateral agreements between Rabat and Madrid aim to promote a ”framework more conducive” to the development of trade and cooperation.

In this regard, said the CEOE, the Euro-Mediterranean Association Agreement between the European Union and Morocco, in force since 2000, has created a free trade area between the two parties, with significant tariff reductions and has promoted access of Moroccan agricultural products to the Spanish and European markets.

 

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