A high-level delegation from the Federation of Saudi Chambers of Commerce (FSC) is on an official visit to Morocco to strengthen economic cooperation and explore new investment opportunities between the two countries.
The delegation, led by FSC President Hassan Al-Huwaizi, includes over 30 Saudi investors and representatives from various government agencies. The visit aims to open new horizons for trade and investment cooperation, with Saudi investors planning to hold meetings with Moroccan economic officials to highlight Morocco’s investment opportunities and incentives. Both sides expect the visit to generate concrete partnerships and further enhance the strong economic relationship that already exists between Saudi Arabia and Morocco.
The initiative aligns with the objectives of Saudi Vision 2030, which focuses on diversifying the national economy, strengthening international economic partnerships, and attracting high-quality investments. By forging stronger economic ties with Morocco, Saudi Arabia seeks to create new channels for trade and diversify its investment portfolio across different sectors.
Saudi Arabia mainly exports oil and petrochemical products to Morocco, while Morocco exports agricultural and fishery products, automotive parts, textiles, and various industrial chemical products to the Saudi market. Trade relations between the two Arab kingdoms have grown significantly in recent years. Bilateral exchanges surged from 5 billion Saudi riyals ($1.33 billion) in 2021 to 16.4 billion riyals ($4.37 billion) in 2022, an impressive 228% increase.
- Advertisement -
Currently, Morocco ranks 26th among Saudi Arabia’s export trading partners and 38th among its import sources, indicating considerable room for further growth. The Federation of Saudi Chambers has already conducted official business visits to 17 countries in recent months, reflecting Saudi Arabia’s broader strategy to expand global trade and investment links.
