Strengthening Ties: Morocco's Ambitious Plan with Kuwait

Anton Kirichenko -

In an inspiring bid to enhance their longstanding relationship, Morocco has set its sights on doubling its economic exchanges with Kuwait. This ambitious goal underscores the two nations’ deep historical ties and aspirations for greater economic cooperation. Morocco’s ambassador to Kuwait, Ali Benaissa, made this announcement during the opening of the Kuwaiti-Morocco Economic Forum, an event characterized by its vibrant discussions and collaborative spirit.

A Platform for Progress

The Kuwait-Morocco Economic Forum, held over two days, served as more than just a meeting ground for business leaders. Organized by the Moroccan Agency for Investment and Export Development (AMDIE), the event was pivotal in redefining bilateral trade relations. It opened new avenues for partnership, adding momentum to the already growing Kuwaiti investments in Morocco.

Historical Ties and Growing Investments

Ambassador Benaissa highlighted the historical significance of the relationship between the two nations, emphasizing the continuous growth of Kuwaiti investments in Morocco. In just three years, these investments have impressively reached $1.5 billion. According to Morocco World News, this growth is indicative of a strong foundation laid by shared economic interests and mutual benefits.

Promising Opportunities Abound

Morocco’s diverse investment landscape offers myriad opportunities for Kuwaiti economic institutions and investors. Significant progress in major projects and the impending 2030 FIFA World Cup, which Morocco will co-host, stand as testaments to Morocco’s strategic position as a burgeoning economic hub. This global event is expected to act as a catalyst for infrastructure development and substantial investments.

Facilitating Trade and Business

Moroccan exports to Kuwait currently stand at MAD 216 million (\(24 million), while Kuwaiti exports to Morocco total nearly MAD 1.3 billion (\)140 million). The forum was central to promoting these trade figures, broadening trade horizons through curated B2B meetings aimed at strengthening economic partnerships. Participants were treated to insightful presentations on Morocco’s investment offerings, including products such as olive oil, traditional textiles, and pharmaceuticals.

Conclusion

In conclusion, the forum successfully mapped out a promising future for Morocco and Kuwait, fueled by a shared vision of economic prosperity. Through simplified administrative procedures and the implementation of a new investment charter, Morocco continues to enhance its business climate, ensuring that its goals of doubling economic exchanges with Kuwait become a reality.