Saudi Arabia and Morocco Strengthen Economic Ties in Mining and Energy
An official delegation from Saudi Arabia is currently in Morocco to explore opportunities for cooperation, with a focus on boosting economic ties in the mining and energy sectors.
Saudi Minister of Industry and Mineral Resources, Bandar Alkhorayef, kicked off his visit to Rabat on June 3, leading the Kingdom’s delegation to the Arab Industrial Development, Standardization and Mining Organization General Assembly’s 28th session from June 4-6.
During the visit, Alkhorayef engaged in discussions with Moroccan officials to enhance cooperation in vital fields and explore promising investment opportunities in both countries.
The Saudi minister also met with Moroccan opinion leaders and economic analysts to review the achievements of Saudi Vision 2030, focusing on the industrial and mining sectors.
In talks with Morocco’s ministers of energy transition and sustainable development, as well as economy and finance, Alkhorayef discussed opportunities for collaboration in the mining sector, specifically in the development of the phosphate industry.
The meetings also addressed regional trade cooperation, obstacles to mineral import and export, export development, and support for promoting Saudi exports in Morocco.
Accompanying Alkhorayef were Saudi vice minister of industry and mineral resources for mining affairs, Khalid bin Saleh Al-Mudaifer, and Saudi ambassador to Morocco, Sami bin Abdullah Al-Saleh.
Furthermore, discussions with heads of major mining companies in Morocco highlighted significant investment opportunities in the Saudi mining sector and the incentives available to investors.
The meeting emphasized the Kingdom’s efforts to develop the mining sector and leverage its vast mineral wealth, estimated at more than SR9.3 trillion ($2.48 trillion).
Alkhorayef also explored cooperation opportunities in mining and mineral resources with Moroccan officials, focusing on Saudi Arabia’s metal industry and mining strategy, investment system, and legislative frameworks.
The visit will include meetings with government and private sector leaders, as well as visits to Moroccan companies and factories to strengthen cooperation in the industrial and mining sectors and explore further investment opportunities.