Spain Overtakes France as Morocco’s Top Economic Partner Amid Diplomatic Shifts

Spain has surpassed France in 2013 to become Morocco’s main trading partner and is now on the verge of becoming the leading investor as well, due to the strengthened relations between Madrid and Rabat and the strained relations with Paris, reports El Español. This evolution is part of a rapprochement marked by bilateral agreements between the Spanish President, Pedro Sánchez, and King Mohammed VI, focusing on the development of renewable energy and green hydrogen projects, areas previously dominated by France.

Spain has further increased its weight in the Moroccan economy, with, for example, the construction of a desalination plant in Casablanca by Acciona, a project valued at 800 million euros. At the same time, a Spanish energy company is bidding for a major project at the Noor Midelt solar complex. It could win the contract.

Meanwhile, relations between Morocco and France have experienced several glitches, notably after the cancellation of a high-level meeting and the European Parliament’s criticism of the human rights situation in Morocco, not to mention visas and attacks against Morocco in the French media. Reports indicate that the French Directorate General of External Security could be involved in a campaign aimed at altering Morocco’s image, the Spanish newspaper indicates.

This Spanish advance at the expense of France has accelerated even more recently. The Spanish Minister of Foreign Affairs, José Manuel Albares, recently stated during a visit to Morocco that economic exchanges between Spain and Morocco are stronger than ever, with a record volume of 20 billion euros in 2022. With Morocco positioned as Spain’s third most important market outside the European Union, after the United States and the United Kingdom, the economic prospects between the two countries seem promising, concludes the same source.