Tuesday 28 November 2023

Morocco Offers 'Enormous Opportunities' for Cooperation (German Economist)

Morocco Offers 'Enormous Opportunities' for Cooperation (German Economist)

Economic relations between Morocco and Germany are set to develop further, as the Kingdom offers "enormous opportunities" for cooperation in several sectors, stressed German economist and managing director of the German-African economic association "Afrika-Verein", Christoph Kannengiesser.

"Morocco is brimming with potential. It is one of the most important destinations for green hydrogen production, the automotive industry, aeronautics and pharmaceuticals," Kannengiesser told MAP.

According to him, Morocco has "factors that interest international investors in general, and German investors in particular", noting that German industry is now looking for countries - like Morocco - that have diversified markets.

"We need to further promote these opportunities in Morocco", he underlined, noting that foreign trade between the two countries has recorded remarkable growth in recent years.

The economist also referred to Morocco's participation in the 4th edition of the G20 "Compact With Africa" investment summit, held last week in Berlin. During this event, Head of Government, Aziz Akhannouch, stressed the importance of the Morocco-German partnership, based on solid relations that continue to strengthen in various fields.

"The Kingdom is one of the most attractive countries in the 'G20 Compact With Africa', in that it has a genuine economic reform agenda to explore and create a number of investment and cooperation opportunities in various fields", said Kannengiesser.

He pointed out that cooperation with Morocco would enable Germany to conquer other markets on the African continent, adding that Morocco, "a country rich in skills, is a promising investment destination".

The partnership between Morocco and Germany is undergoing sustained development, particularly in light of the increase in the volume of German investment in the Kingdom, which has risen sixfold between 2015 and 2022.

MAP: 27 November 2023