The agreements signed included several sectors, the most important of which are railways, energy sectors, green hydrogen, and the aircraft industry.
The most important agreements
- Establishment of a site for aircraft engine maintenance and repair between the Moroccan government and “Safran” company
- Establishing a mechanism to accelerate investments between Morocco and France, aiming to create a 50/50 joint project dedicated to sustainable infrastructure, with a capital of 300 million euros.
- The French Development Agency’s commitment to provide a loan of 100 million euros
- Formulating a new support program for the National Water Strategy, in which the French Agency commits to providing 100 million euros to this program
- A partnership between the OCP Group (Morocco) and the French Development Agency worth 350 million euros
- Development of a container terminal and an investment worth 258 million euros, to keep pace with other Moroccan port and logistics projects.
Great economic relations
France enjoys a special position as Morocco’s number one trading partner globally, and the largest foreign investor in the Kingdom. The Kingdom has also been able to expand its investments in recent years to become the largest African investor in France. There are also more than 1,000 French companies in Morocco, providing about 150 job opportunities.
On the other hand, the visit of the French President opens new horizons, as the aircraft manufacturer Airbus is counting on this visit to enhance its presence, with the signing of strategic contracts extending until 2037.
France is also one of the most important destinations for Moroccans living abroad, as remittances from the Moroccan community residing in France amounted to $3.6 billion in 2023. As for tourism, official figures indicate that travel revenues from France to Morocco recorded $3.4 billion in 2023, compared to $3. $1 billion in 2022.
Commercial exchange
The balance of trade between the two parties is tilted in favor RabatMoroccan exports to France last year grew by 8.6 percent, reaching $8.8 billion, while imports did not exceed Morocco About $7.6 billion from France after it declined by 3.1 percent from the level it achieved in 2022.
The most important products imported from France in 2023 included car and vehicle spare parts, wheat, as well as piston engines and industrial equipment. In contrast, cars topped the list of products exported by Morocco to France, in addition to aircraft and aerial vehicle parts and electrical cables.
During this year, Moroccan imports continued the declining trend, declining by 6.5 percent from the beginning of the year until the end of July, reaching $4.3 billion, compared to $4.6 billion achieved during the same period of the previous year. In contrast, Moroccan exports maintained their stability, recording $5.2 billion during the same period. period of this year.
