During a meeting organized by the Asharqia Chamber
A Moroccan trade delegation reviews investment opportunities in electric and renewable energy services
On Thursday, March 16, 2023, the First Vice-Chairman of the Board of Directors of the Asharqia Chamber, Hamad bin Muhammad Al-Buali, met with the head of the Moroccan trade delegation and the Chairman of the Partnerships and International Development Committee of the National Federation of Electricity, Electronics, and Renewable Energy in the Kingdom of Morocco, Muhammad Zakzoti, where they discussed aspects of economic cooperation between the two chambers.
Al-Buali stressed the depth of the Saudi-Moroccan relations, pointing out that the relations between the two kingdoms are characterized by a high level of strong brotherly relations, and the ties of sincere affection bind the leadership in the two countries.
Al-Buali said during the meeting, which was attended by the Secretary-General Abdul Rahman bin Abdullah Al-Wabel and a member of the Saudi-Moroccan Business Council, Ali Berman Al-Yami, that based on the joint will that the two countries follow, under the directives of their leaderships, to enhance the horizons of cooperation and strengthen partnerships between them, it was agreed to develop a road map to define cooperation priorities. The bilateral economic, optimal exploitation of the industrial integration between the two countries and the important capabilities available within the framework of a relationship that takes into account mutual interests.
He also made it clear that the private sector in both countries can, in light of the favorable conditions supported by the two leaderships, play a major role in increasing the horizons of economic cooperation, promoting trade and joint projects in various fields, especially electrical services, renewable energy, and others.
The Kingdom and the Kingdom of Morocco share many areas of cooperation, as the two countries have growing trade relations, as the average volume of trade exchange between the Kingdom and Morocco increased by 117.24% in the year 2120 AD, compared to 2020 AD. It increased by 107.90% compared to 2017 AD. Joint investments witnessed There have been remarkable increases between the two sides over the past few years in various economic sectors, which indicates, in light of the enormous opportunities and potentials of the two countries, an increase in the horizons of economic cooperation, the promotion of intra-trade, and the establishment of more investment projects.
For this part, Zakzoti said that Saudi Arabia and Morocco are characterized by advanced economic and trade relations, pointing to the importance of strengthening these relations through business sector communication and discussing ways to enhance cooperation and seize investment opportunities available between the two countries, stressing that the business sector in Morocco is keen to develop trade and economic relations between the two kingdoms In line with the aspirations of the leadership to raise the rates of trade exchange in line with the development plans of the two countries.
The Chamber received a commercial delegation specializing in the energy sector, "electrical services and renewable energy," which witnessed remarkable interaction from the business sector in the eastern region.
