Zidan: Moroccan-Spanish Economic Relations Reach Historic Level of €24 Billion in 2024
Follow-up
The Deputy Minister in charge of Investment, Coordination, and Evaluation of Public Policies, Karim Zidan, confirmed that the economic relations between Morocco and Spain are experiencing one of their strongest historical phases. He highlighted that trade exchanges between the two countries have reached an unprecedented level, reflecting the depth of the existing strategic partnership.
Zidan’s statements came during his participation today in Madrid at the Spanish-Moroccan Business Forum, held ahead of the 13th high-level meeting between the governments of both countries. He emphasized that bilateral economic ties have entered a “historic phase” characterized by trust, stability, and predictability.
The Moroccan official noted that the joint economic dynamics have demonstrated resilience in the face of international fluctuations, establishing the Moroccan-Spanish partnership as a “central pillar” within the Euro-Mediterranean space and a lever for enhancing economic balances in the region.
Zidan pointed out that 2024 will be a pivotal year as trade exchanges surpass €24 billion, a figure he considers clear evidence of an unprecedented level of economic integration.
He affirmed that Spain remains Morocco’s top trade partner and one of its closest industrial allies, with around 1,000 Spanish companies established in the kingdom. He added that Morocco is progressing to become Spain’s most important economic partner outside the European Union, “not only due to geographical proximity but because this proximity has evolved into a structural closeness that reflects interconnected value chains and aligned developmental paths.”
Zidan reminded that Morocco, under royal leadership, is leading a profound economic transformation based on productive investment, innovation, and competitiveness, supported by the rise of advanced industrial sectors such as automotive manufacturing, renewable energy, electric mobility, and the digital economy, which strengthens the kingdom’s position as a key player in North Africa and the Mediterranean Basin.
He also stressed that the bilateral partnership is moving towards a new phase based on joint production and coordination of industrial and energy ambitions, noting that Morocco is a reliable gateway to Africa while Spain possesses a strategic position within Europe and an extension toward Latin America. This enables both sides to build competitive value chains on the international stage.
The minister concluded by emphasizing the need to transform the current dynamics into a long-term structural orientation, stating: “The challenge today is to transition from exchanges to investments, and from investments to sustainable economic systems.”
