Saudi Arabia eyes strengthened industrial partnership with Morocco in key sectors, such as energy and petrochemicals, Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim Al-Khorayef, said.
During a visit on Wednesday to the Casablanca-based Moroccan Employers’ Association (CGEM), Al-Khorayef commended Morocco’s economic progress, particularly in industrial and mining sectors, where the two countries can promote efficient cooperation.
Saudi Arabia is banking on industry to diversify its economy, with strategies focused on logistics, exports and education, Al-Khorayef said, adding that KSA’s industrial strategy targets twelve sectors, including those related to sustainability, national security, natural resources and industries of the future.
“These initiatives offer numerous opportunities for collaboration with Morocco for innovative and strategic projects”, he said.
Al-Khorayef also stressed the importance of the strong ties between Rabat and Riyadh, stressing that they are the cornerstone of shared economic prosperity, adding that the clear strategies of the two countries, such as that Saudi Arabia’s “Saudi Vision 2030” and Morocco’s economic reforms reflect their common ambitions.
In this regard, he called for boosting bilateral trade to achieve common ambitions, noting that Saudi Arabia is preparing to host major events such as Expo 2030, the 2034 World Cup or further projects such as “Neom” which will require a variety of goods and services.
The Saudi official said that Morocco, with its industrial capacities and its growing market, can play a key role in these initiatives, in particular by participating in priority projects identified in Saudi Arabia’s industrial strategy.