3-Day Morocco Working Visit Concludes with Bilateral Commercial Exchange Agreement

From Monday 10 to Thursday 13 October 2022, His Royal Highness the Hereditary Grand Duke presided over a working visit to Morocco, led by Luxembourg's Minister of the Economy, Franz Fayot.

The visit aimed to strengthen economic ties between the two countries. It was organised by the Ministry of the Economy, in close collaboration with the Luxembourg Trade and Investment Office (LTIO) in Casablanca and the Luxembourg Chamber of Commerce.

Official meetings

After being officially welcomed at Mohammed V airport in Casablanca by the Minister of Economy and Finance of the Moroccan government, Nadia Fettah Alaoui, the Hereditary Grand Duke and Minister Fayot were expected in Rabat on Tuesday.

After visiting the Mausoleum of Mohammed V, to lay a wreath and spend a few moments of silence, the Hereditary Grand Duke and Minister Fayot were received by the head of the Moroccan government, Aziz Akhannouch. Together, they discussed the challenges related to the digital and green transition and areas in which cooperation between the two countries could be strengthened, knowing that the Moroccan government is committed to stimulating domestic private investment, reversing the current distribution between public and private investment to reach two-third of private investment and one-third of public investment by 2035 (Morocco has had, for more than ten years, one of the highest investment rates in the world in relation to its GDP, i.e. around 30%).

They then met with the Minister in charge of Investment, Convergence and the Evaluation of Public Policies, Mohcine Jazouli. The discussion focused on the economic relations between the two countries, which have the potential to be strengthened, particularly in the field of green hydrogen.

They then Minister Alaoui, who praised the good relations between the financial centres of the two countries and mentioned the possibility of further cooperation in the field of green finance. Minister Alaoui specified that Morocco has major infrastructure projects, particularly in renewable energies, which require significant investment and Luxembourg, through its experience in sustainable finance, would be a partner of choice in this context. The ministers also exchanged views on the “Morocco-Luxembourg-Africa” trilateral cooperation.

Rabat-Salé tramway and Mohammed VI tower

The day ended with a visit to the Rabat-Salé tramway project and the Mohammed VI tower.

Inaugurated by His Majesty King Mohammed VI on 18 May 2011, the Rabat-Salé tramway has a network of two lines with 43 stations and a length of 27 km. It serves the historic city centre, the various facilities and the main university cities and above all provides a permanent link between Rabat and Salé. Managed by the Société du tramway de Rabat Salé (STRS), the Rabat-Salé tramway project was the subject of a fruitful collaboration between the Luxembourg company Vossloh Cogifer Kihn, signaling supplier for the railway system, and the STRS. Similar cooperation is possible in the future, given the many tram extension projects that are planned for the near future.

The Mohammed VI tower, currently under construction, is the tallest tower in Morocco. With a total area of ​​102,800 m² and reaching a height of 250 metres, it was designed to be visible from 50 kilometres around. The interior of the building was designed over 55 floors, hosting a luxury hotel, offices, high-end apartments and even an observation deck at the top. The south facade of the tower will be fully equipped with 3,350 m² of photovoltaic panels, while rainwater recovery and wastewater recycling systems have been integrated into the design of the building. Several Luxembourg companies participated in its construction, including NEY & Partner, which designed the structure of the tower, ArcelorMittal Differdange, which supplied more than 9,000 tonnes of steel for its construction and SECO Expert which is responsible for the control of statics and calculations from engineering offices.

In parallel to these meetings, a networking lunch was organised by the Belgian-Luxembourg Chamber of Commerce, for the benefit of the economic delegation, led by the Luxembourg Chamber of Commerce, which is taking part in the working visit.

Casablanca – cooperation agreement with the CGEM

The Wednesday 12 October, the day began with a meeting with the three highest representatives of the Casablanca-Settat region, Saïd Ahmidouch “Wali” − that is to say, representative of His Royal Highness the King of Morocco in the region − and the governor of the prefecture of Casablanca, the mayor of Casablanca, Nabila Rmili, and vice-president of the Casablanca-Settat region, Mohammed Bourrahim.

The Casablanca-Settat region is the economic metropolis of the kingdom and the destination of significant national and foreign investment. It generates a third of Moroccan GDP (32.2%). Many sectors of activity are represented there: industry, services, agriculture, tourism (third tourist destination in Morocco), real estate, crafts, sustainable development, fishing, etc. It is for this reason in particular that the city of Casablanca was chosen to host the headquarters of the Luxembourg Trade and Investment Office in Morocco.

The meeting with the representatives of Casablanca-Settat aimed to present the economic opportunities in the region which enjoys a unique position to access the African continent, as a regional hub. With the opening of an LTIO office in October 2020, Luxembourg's ambition is to forge economic ties in a Morocco-Luxembourg-Africa triangular cooperation.

Then, the Hereditary Grand Duke and Minister Fayot were received by the President of the General Confederation of Moroccan Enterprises (CGEM), Chakib Alj. The CGEM was created in 1947 and ensures the representation and promotion of member companies operating in different sectors and of different sizes. It represents 90,000 members, 95% of which are small or medium-sized enterprises.

The objective of the visit to the Kingdom of Morocco, the third in last seven years, was to follow up on the last economic mission in 2019 and to allow Luxembourg companies to identify new business opportunities. In this context, the Chamber of Commerce of the Grand Duchy of Luxembourg has signed a cooperation agreement with the CGEM, with a view to further promoting commercial exchanges and long-term collaboration between the two countries, on the commercial, industrial and technical, for the benefit of their member companies.

The working visit ended with a lunch offered by the president of the CGEM, in the presence of the trade delegation and Moroccan companies interested in Luxembourg.

Following the trip, Minister Fayot said: "After two intense days of meetings and visits, I am convinced that we have achieved our objective and contributed to strengthening bilateral relations between our two countries. Like Vossloh Cogifer Kihn, SECO expert and NEY & Partners, who have managed to establish themselves in Morocco with bold projects, I hope that other Luxembourg companies will follow suit. Morocco is showing agility and is embarking on major reforms. With its privileged geostrategic location for all relations with Africa, the country can act as a real gateway to the African continent.”