Moroccan and Mauritanian businesses unite to boost trade and investment

The heads of two key business organizations, President Chakib Alj of the Moroccan General Confederation of Enterprises and President Mohamed Zeine El-Abidine Ould Cheikh Ahmed of the National Union of Mauritanian Employers established a working group within the Moroccan-Mauritanian Business Council.

This move, announced during the third Moroccan-Mauritanian Economic Forum held on Wednesday, aims to strengthen ties between the business communities of both countries and support bilateral trade and investment. The team will develop a concrete action plan to assist companies in realizing joint investment opportunities identified during the forum.

Ambassador Hamid Chabar of Morocco emphasized the crucial role of governments and the private sector in building a «solidaristic and effective strategic partnership» that leverages the strengths of both nations. He highlighted the potential for «positive integration and a win-win principle» to address regional challenges.

Trade between the two countries surged in 2022, reaching over $300 million with a 58% growth compared to 2020. Morocco became the leading African supplier to Mauritania, accounting for almost 50% of its total imports from the continent.

Chabar identified promising sectors for Moroccan investment, including agriculture, livestock, fishing, mining, energy, tourism, services, public works, and infrastructure.

The forum's first day concluded with presentations on the business climate and investment opportunities in both countries, attended by over 300 Moroccan and Mauritanian business leaders.