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Reversal of Maghreb-Europe Pipeline Makes Morocco Spain’s Major Gas Buyer

In the last two years, Morocco has become one of the principal customers of Spain’s regasification plants due to the reverse flow of the Maghreb-Europe Gas Pipeline (GME) that commenced on June 28, 2022, Spanish outlet Activos reported on Sunday. Since the beginning of this year, 16.5% of all of Spain’s natural gas re-exports have been to Morocco,…

2 Mln Counterfeit Goods Seized in Morocco in 2023

Morocco seized 2,021,886 counterfeit items in 2023 compared to 1,821,886 in 2022, with an overall estimated value of 19.9 Mln MAD, according to the Customs and Indirect Taxes Administration (ADII). 622 requests for suspension of release for free circulation of goods presumed to be counterfeit were processed, compared with 682 in 2022, ADII pointed…

Morocco’s Mining Giant Managem Buys Sound Energy Parts in Tendrara Gas Field

Morocco’s mining giant company Managem bought the UK gas business Sound Energy’s subsidiary Sound Energy Morocco East Limited in Tendrara gas field in Eastern Morocco on Friday, for 45.2 Mln dollars. According to Managem, the field is expected to begin producing 100 million cubic meters per year starting next year. "The group is actively looking…

Morocco’s Customs Revenues Up 1.2% in 2023

Morocco's customs revenues hit 132.6 Bln MAD in 2023, up from 131 Bln MAD in 2022, showing a 1.2% increase, according to the Customs and Indirect Taxes Administration (ADII). Customs receipts achieved "a new all-time record" in the previous year, confirming the growing trend seen in prior years, ADII pointed out in its 2023 activity report. This…

Morocco Breaks Record in Asparagus Export

Morocco has broken its own record for fresh asparagus exports for the fourth straight season after exporting 320 tons between November 2022 and March 2024, outstripping the previous season’s figure of 260 tons for the same timeframe, according to East Fruit. Morocco has progressively increased its fresh asparagus exports in recent years, despite…

Morocco’s Exports to Spain Up 4% in Q1 2024

Spanish imports from Morocco totaled 2.49 Bln euros (nearly 26.69 Bln dirhams) in the first quarter of 2024, demonstrating a 4% rise over the same period last year, according to the Spanish Embassy in Rabat. Moroccan exports marginally surpassed its total export increase (+3%), while Spain's overall import market decreased by 7.1%. Based on the…

Morocco Receives Record FDI of 13 Bln MAD in Jan-Apr

Morocco received record foreign direct investment (FDI) inflows of 13.1 billion MAD in the first four months of 2024, cementing the Kingdom's position as a regional hub and preferred investor destination, according to Morocco’s Foreign Exchange Office (Office de Change). The North African country has received FDI in a variety of sectors, including…

Morocco Invest 8 Bln MAD in Tourism in 2023

Morocco’s Minister of Tourism, Handicrafts, and the Social and Solidarity Economy, Fatim-Zahra Ammor, said on Tuesday that the tourism sector investment reached eight billion MAD in 2023. Speaking at the Upper House's question time, Ammor said that renowned global brands are showing a growing interest in investing in Morocco, while regional…

Made in Morocco Car Brand Neo Motors Opens First Showroom in Rabat

Neo Motors, the first 100% Moroccan car manufacturer, on Friday opened its first showroom in Rabat, marking the first time that vehicles designed and manufactured entirely in Morocco are sold to the public. The Rabat showroom showcases the brand’s first model, designed to meet the specific needs of the local market. It also featured a ceremonial…