France has been less economically present in Morocco for several years now, and the situation has worsened since the two countries’ cold two years ago. This disenchantment between the two countries benefits Spain.
Spain overtook France in 2013 to become Morocco’s main trading partner and is now poised to become the top investor, due to strengthened relations between Madrid and Rabat and flagging relations with Paris, reports El Español. This development is part of a rapprochement marked by bilateral agreements between the Spanish President, Pedro Sánchez, and King Mohamed VI, emphasizing the development of renewable energy and green hydrogen projects, areas previously dominated by France.
Spain has further increased its weight in the Moroccan economy, with, for example, constructing a desalination station in Casablanca by Acciona, a project valued at 800 million euros. Meanwhile, a Spanish energy company is in the running for a major project at the Noor Midelt solar complex. She could win the market.
During this time, relations between Morocco and France experienced several hiccups, notably after the cancellation of a high-level meeting and criticism from the European Parliament on the human rights situation in Morocco, without forgetting the visas and attacks against Morocco in the French media. Reports indicate that the French Directorate General of External Security could be involved in a campaign aimed at altering the image of Morocco, according to the Spanish newspaper.
This Spanish advance to the detriment of France has accelerated further in recent times. The Spanish Minister of Foreign Affairs, José Manuel Albares, recently affirmed during a visit to Morocco that economic exchanges between Spain and Morocco are stronger than ever, with a record volume of 20 billion euros in 2022 With Morocco positioned as the third largest market for Spain outside the European Union, behind the United States and the United Kingdom, the economic prospects between the two countries appear promising, concludes the same source.
