Saudi Arabia, Morocco eye stronger industrial ties

Economic ties between Saudi Arabia and Morocco are set to boost particularly in the fields of mining of energy as an official delegation from the Kingdom is visiting the northwestern African country to explore venues for cooperation.

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef began his official visit to Rabat on June 3.

He will head the Kingdom’s delegation to the Arab Industrial Development, Standardization and Mining Organization General Assembly’s 28th session, which will be held from June 4-6 in the Moroccan capital, according to the Saudi Press Agency.

According to Alkhorayef, he and the Moroccan officials discussed ways to enhance cooperation in vital fields. “We also reviewed the promising investment opportunities available in both countries and opened new horizons for sustainable partnership,” the Saudi minister said.

He added that he reviewed Saudi Vision 2030’s achievements with a group of Moroccan opinion leaders and economic analysts, focusing on the industrial and mining sectors.

“We also exchanged views on a number of economic issues, emphasizing the importance of the media and its pivotal role in spreading awareness and achieving development goals,” he said.

Meanwhile, the industry minister held talks with Leila Benali, Morocco’s minister of energy transition and sustainable development, and Nadia Fettah, Morocco’s minister of economy and finance. The officials discussed enhancing economic cooperation between the two kingdoms.

During the meeting, they also discussed cooperation opportunities and partnerships in the mining sector, including the development of the phosphate industry, benefiting from the two countries’ accumulated experiences to enhance the competitive advantage of phosphate fertilizers and access to new markets.

They also discussed collaboration in regional trade, including overcoming obstacles to the import and export of vital minerals in the region, in addition to cooperation in the field of export development, and supporting the promotion of Saudi exports in Morocco.

The meetings were attended by Khalid bin Saleh Al-Mudaifer, Saudi vice minister of industry and mineral resources for mining affairs, and Sami bin Abdullah Al-Saleh, Saudi ambassador to Morocco.

Additionally, Alkhorayef held a meeting with heads of major mining companies in Morocco with the participation of some of the country’s most prominent investors in this sector.

The session focused on enhancing cooperation and reviewing the significant investment opportunities provided by the Saudi mining sector, and the services and incentives the Kingdom’s ministry offers to investors.

The meeting also shed light on the ministry’s efforts and plans toward developing the mining sector, benefiting from Saudi Arabia’s vast mineral wealth, which is estimated at more than SR9.3 trillion ($2.48 trillion).

Furthermore, the meeting, also attended by Benali, explored cooperation opportunities in the field of mining and benefiting from the mineral resources available in both countries.

The meeting, held at Morocco’s Ministry of Energy Transition and Sustainable Development, reviewed Saudi Arabia’s comprehensive metal industry and mining strategy, the mining investment system, and the sector’s legislative frameworks and regulations.

In its report, SPA added that Alkhorayef is scheduled to meet with several government and private sector leaders and heads of mining companies, adding that the minister will visit Moroccan companies and factories to bolster cooperation in the industrial and mining sectors and explore investment opportunities.