A Moroccan trade delegation led by the President of the Communication and Partnership Commission of the National Federation of Electricity, Electronics, and Renewable Energy (FENELEC), Mohamed Zegzouti, was on a working visit to Saudi Arabia to promote Morocco’s investment opportunities in the field of electrical and renewable energies.
On this occasion, Zegzouti and the Vice-President of the Board of Directors of the Asharqia Chamber, Hamad Al-Boali, discussed aspects of economic cooperation between the two parties.
Zegzouti and Al-Boali highlighted the long-standing relations between Morocco and Saudi Arabia and the friendship uniting the leaders of the two countries.
Morocco and Saudi Arabia cooperate in several fields. The two Kingdoms maintain growing trade relations, with the average trade volume between the two countries increasing by 117.24% in 2021 compared to 2020, and by 107.90% compared to 2017.
Investments between Morocco and Saudi Arabia witnessed a significant increase in recent years in several economic sectors, which reflects, in light of the large opportunities and potentials of the two countries, an increase in the prospects of economic cooperation.
In this regard, Zegzouti stressed that Morocco and Saudi Arabia are characterized by their deep economic and business relations, emphasizing the importance of strengthening these relations and seizing the available investment opportunities within the two countries.
Zegzouti also added that the business sector in Morocco aims to develop business and economic relations between the two Kingdoms in accordance with the aspirations of the leaders of the two countries, as well as to raise commercial exchange rates in accordance with the development plans of the two countries.
