Morocco: Moroccan business delegation outlines renewable energy investment opportunities
- 22 March 2023 / News / 96 / Admin-23
A Moroccan trade delegation led by Mohamed Zegzouti, president of the partnership commission of the National Federation of Electricity, Electronics and Renewable Energies (Fenelec), traveled to Saudi Arabia to present opportunities for investment in the field of electrical and renewable energies.
On this occasion, the first vice-president of the board of directors of the Asharqia Chamber, Hamad Al-Boali, and the head of the Moroccan trade delegation, discussed aspects of economic cooperation between the two parties.
They underlined the depth of Saudi-Moroccan relations, reflecting the sincere ties of friendship between the leaders of the two countries.
Saudi Arabia and Morocco share many areas of cooperation. The two countries enjoy growing trade relations, with the average trade volume between the two countries increasing by 117.24% in 2021 compared to 2020 and 107.90% compared to 2017.
Investments between the two sides have witnessed remarkable increases 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 prospects for economic cooperation.
For his part, Mr. Zegzouti pointed out that Saudi Arabia and Morocco stand out for their advanced economic and trade relations, stressing the importance of strengthening these relations and seizing the investment opportunities available between the two countries.
He indicated that the business sector in Morocco intends to develop trade and economic relations between the two Kingdoms in accordance with the aspirations of the leaders of the two countries and to raise commercial exchange rates in accordance with the development plans of the two countries.
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