Morocco-Mauritania: Investors explore business opportunities

Morocco-Mauritania: Investors explore business opportunities

A dedicated Economic Forum was held on September 20

Morocco and Mauritania wish to strengthen their economic relations. An ambition clearly displayed by both parties during the Morocco-Mauritania Economic Forum which took place on September 20, 2022. A meeting that allows both parties to seize various business opportunities in sectors with high potential.

“The previous Mauritania-Morocco economic meeting, which took place in December 2018 in Nouakchott, was a great success given the synergies created and the many partnerships that have been forged between our companies. On this occasion, our two business communities had also identified, on the ground, the sectors which can be at the heart of the revitalization of our economic relations, as well as the opportunities which result from it”, explains Chakib Alj, president of the CGEM, during this meeting recalling that last March, the 8th session of the Moroccan-Mauritanian joint commission, held in Rabat in the presence of the heads of government of the two countries, was crowned by the signing of thirteen cooperation agreements in various sectors and a memorandum of understanding, including the agreement between the CGEM and the UNPM. “All this to tell you that the basis of our cooperation is well established.

Now is the time for action! So how, as private sectors, could we create, in a pragmatic, efficient and sustainable way, shared added value and employment? I would say by determining as of today quick-wins and actions targeted by sector”, indicates the president of the CGEM giving the example of the agricultural sector which, according to him, “is essential in view of the need to to guarantee the food security of our countries, but also because of the opportunities for transformation and the creation of complementary value chains. Investing together in sustainable and innovative agriculture is, in my opinion, a priority, but also an emergency, to deal with the impacts of climate change and drought on our economies”.

Chakib Alj also highlighted the fisheries sector inviting to “work together and invest in the creation of more factories for the processing and manufacture of high added value and quality fishery products, meeting the requirements of international markets” . During his speech, he also mentioned the energy sector. “Mauritania has adequate geographic and climatic potential to successfully complete its energy transition, cover its renewable energy needs and reduce its production costs. To this end, Moroccan companies are ready to use their significant experience in this field to build, in partnership with local actors, solar and wind units,” he argues. Regarding the vital health sector, the president of the CGEM called for cooperation in the fields of health and the pharmaceutical industry to anticipate health shocks and meet the needs of populations.

For her part, the Minister of Economy and Finance, Nadia Fettah, said that “we are convinced that the development of trade and economic relations is a major lever for strengthening ties between our two countries”. In the same vein, she stressed that given both human and natural resources, and the rapidly changing global context, the level of trade between the two countries, which reaches 2.3 billion dirhams (MMDH) “remains in below our ambition”, expressing its commitment to develop it in the coming years. “The diversity of the sectors of activity represented today within the framework of this Business Forum is proof of a strong potential for collaboration and I remain convinced that this event will strongly contribute to the rapprochement between Moroccan and Mauritanian economic operators” , she believes.

In addition, the Minister recalled that Morocco attaches great importance to the creation of a business climate favorable to all investors, reiterating the Kingdom’s commitment to the development of economic relations with Mauritania in a sustainable and sustainable perspective. commensurate with the ambitions and fraternal ties that unite the two countries.

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