The “American Reporter” news outlet applauded the Royal Initiative on Sahel Countries’ Access to the Atlantic, in an article published Friday, and considered it a backbone for African-Atlantic alliance that would expand the geographical scope of the Atlantic Ocean markets.
Given Morocco’s status as one of the US’s crucial African allies, Morocco-Spain rapprochement is of paramount importance for the US interests, especially following Spanish Prime Minister Pedro Sanchez’s recent visit to Morocco and talks with Moroccan Monarch Mohammed VI, it pointed out.
Their discussion covered major issues like the Sahara, energy cooperation, and the historic 2030 World Cup, which was co-hosted with Portugal. However, the focus was on the proposed gas pipeline between Morocco and Nigeria, in which Madrid has expressed a strong interest.
Morocco’s initiative is not only a strategic move to replace the Algerian gas that was cut after Spain’s approval of Morocco’s autonomy plan for the Sahara, but it is also a catalyst for infrastructure development along the African coast, potentially creating a surge in job opportunities, particularly for young people.
This project marks the beginning of a large-scale investment program targeting the expansion of critical infrastructure, new ports, and digital technologies. Such advancements are likely to have a substantial economic impact, perhaps producing hundreds of thousands of jobs throughout Africa.
The program is an insightful answer to various regional concerns, most notably migration, as it is projected to reduce migratory pressures by establishing job opportunities and supporting economic growth, the news outlet reported.
The Sahel Initiative has important consequences for corporations in the United States and Spain. For American enterprises, this opens up new trade and investment opportunities, notably in renewable energy, technology, and infrastructure development.
Thanks to geographical closeness and historical links to the region, Spanish enterprises stand to profit from improved market access and the possibility of joint ventures and partnerships.
Morocco’s infrastructure leadership has resulted in billions of dollars in port development, including the Tanger Med port, the largest in the Mediterranean and Africa. The digital landscape in Morocco has also grown significantly, with the technology industry accounting for more than 5% of national GDP, indicating expanding market prospects for tech enterprises.
In macroeconomic terms, the US-Morocco relationship has seen consistent increase in trade and investment. In 2021, US exports to Morocco reached 2.4 Bln dollars, while imports were 1.2 Bln dollars, indicating a strong trading partnership.
The United States has also accepted Morocco’s territorial integrity, including the Sahara, agreeing with Spain’s position and encouraging a tripartite agreement. The US’s and Spain’s support for Morocco’s territorial integrity sends a strong message of unity and shared strategic objectives.
Spain is another important transatlantic ally of the United States. The predicted 35.5 Bln dollars in goods and services trade between the United States and Spain in 2021 demonstrates the two countries’ economic synergy.
The tripartite partnership on the 2030 World Cup provides a one-of-a-kind opportunity for American firms –in industries ranging from infrastructure to technology and services– to use the global event and broaden their international reach, it concluded.