"Morocco and France Forge New Business Opportunities and Partnerships"

16 Aug, 2024

"Morocco and France Forge New Business Opportunities and Partnerships"

France’s recent endorsement of Morocco’s sovereignty over Western Sahara has sparked enthusiastic support from the French business community, creating new opportunities to strengthen economic ties. This endorsement is expected to enhance French investments in Morocco’s southern provinces. Currently, over 1,300 French companies operate in Morocco, including 38 from the CAC 40, making France Morocco's largest trading partner with trade reaching €14 billion in 2023.

Despite past diplomatic tensions, economic relations between France and Morocco remain robust, with the latest support anticipated to further solidify these connections. French direct investments in Morocco stood at approximately €8.1 billion by the end of 2023, representing 20% of total capital investments in Africa. Conversely, Moroccan investments in France have increased significantly.

The new diplomatic support opens avenues for collaboration in renewable energy, with French companies like Engie investing in solar, wind, and green hydrogen projects. The upcoming Morocco-France Economic Forum highlights this focus, while French companies are already engaged in significant projects such as a hybrid energy initiative in Dakhla. The expansion of Morocco’s railway network also presents opportunities for French firms like Alstom and Egis Rail.

This strengthened partnership signals increased stability and growth prospects for both countries, particularly in emerging sectors and southern Morocco.