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Tuesday, December 6, 2022

Morocco, Sweden Launch Advisory Business Council in Stockholm

The Morocco-Sweden Advisory Business Council, which aims to promote relations and exchange of expertise between the business communities in the two countries, was officially launched on Wednesday in Stockholm.

The Morocco-Sweden Advisory Business Council has as its main objective to “promote economic, commercial, financial, technological, professional and cultural relations, and the bonds of friendship between the business communities in both countries, but also in their respective development areas.”

Moroccan Ambassador to Sweden and Latvia Karim Medrek said on this occasion, that the current international environment reflects the imperative to strengthen existing cooperation between the two countries and develop new ones, in order to reflect together on common solutions, through the exchange of experiences and expertise and the linking of innovation ecosystems.

“We attach particular interest to the creation of a business advisory council, which will be able to allow the establishment of new and concrete cooperation between the companies of our two countries,” he stressed, noting in this sense that the economies of both countries have similar concerns for the development of certain industrial sectors.

Many opportunities are available for the launch of economic partnerships in areas related to renewable energy, green economy, new technologies, innovation, artificial intelligence, automotive, tourism, aerospace, transport, textiles and health industry.

After recalling that Morocco is positioned as the first investor in West Africa and the second African investor on the continent, through a multitude of structuring projects, Medrek noted that several Moroccan companies in various sectors are involved in the policy of continental economic expansion.

The next step of the board would be to organize a visit to Morocco to explore all the business opportunities and investment that the Kingdom offers to investors, in addition to organizing several meetings with professionals in the economic sector, which may lead to institutional partnership projects, new business opportunities or joint research protocols.

In the same context, Sven Otto Julius Littorin, businessman and former Swedish Minister of Employment, said he was “proud” of the launch of this council, which according to him, will identify, in a non-limitative way, global trades that the Moroccan and Swedish operators could develop in common, in this case infrastructure, hydrocarbons, renewable energy, sustainable development, health and education.

He noted that this council will create synergies and channels of communication between Moroccan and Swedish companies, promote the exchange of expertise and know-how and promote investment and co-investment in sectors of common interest.

Lynda Nyberg, member of the board of directors of Swedish technology companies, stressed that this council is a “new step” in strengthening economic cooperation between the two countries.

This cooperation “can only contribute to the strengthening of investment projects, especially in the technology sector, which is developing more and more in Morocco,” she explained.

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