Morocco Aims to Accelerate Automotive Industry Growth, Boost Exports

"Morocco, a center of competitiveness for the automotive industry": this is the theme under which this congress organized by the Moroccan Agency for Investment and Export Development (AMDIE) and the Moroccan Embassy in Madrid, in partnership with Auto-revista, is being held. In his speech, Moulay Hafid Elalamy expressed Morocco’s determination to continue the industrial acceleration of the automotive sector. This is, according to the minister, a "national ambition."

According to Challenge.ma, this congress allowed Morocco to display its new ambitions in the sector and the multiple investment opportunities that the Kingdom currently presents. And for the sixth consecutive year, Spain holds the place of Morocco’s leading trading partner in terms of exports and imports.

According to forecasts by the Office des Changes, trade flows between the two countries could reach 24 billion euros by 2025. Spanish direct investments in Morocco amount to an average of 2.2 billion dirhams, with Morocco being the number one destination for Spanish FDI in Africa. Currently ranked 8th in the world in car production, Spain brings its expertise in the field through the know-how of world-renowned Spanish manufacturers.