Casablanca – In a landmark development on Wednesday, Morocco and Austria declared their shared commitment to bolster cooperation in the energy sector, particularly focusing on the transition to a sustainable, green economy.
The announcement came during the inaugural Morocco-Austria Economic Forum, hosted by Advantage Austria Casablanca and the ReFocus Austria program in collaboration with the General Confederation of Moroccan Enterprises (CGEM). Both nations articulated their mutual aspirations to stimulate further investment opportunities, foster exports, and strengthen bilateral ties.
Austria’s Federal Minister of Labor and Economy, Martin Kocher, emphasized the opportune moment for Morocco and Austria to collaborate closely, leveraging each other’s strengths for mutual benefit. Highlighting the “abundant opportunities,” Kocher underscored the focus on green technologies, eco-friendly transformation, and decarbonization. He commended the “very dynamic” growth in exchanges between the two nations over the
past two years.
Mehdi Tazi, Vice President of CGEM, provided insights into Morocco’s new investment charter and underscored the investment prospects in the water and energy sectors. Tazi emphasized Morocco’s advantages as a premier investment, production, and export platform, citing a conducive business climate, skilled workforce, and a stable currency in terms of “Doing Business.”
Albrecht Zimburg, Commercial Counselor of the Austrian Embassy, supported Morocco’s appeal as a crucial market and attractive investment destination for Austrian companies. He highlighted Morocco’s strides in establishing a modern industry over the last two decades, positioning the country as a competitive regional hub.
“The Morocco-Austria partnership is integral to both the European Union and Austria’s engagement in North Africa and the continent as a whole,” Zimburg stated, highlighting Morocco’s strategic role as a link between the North and the South and an appealing nearshore site.
Wolfgang Hesoun, Vice President of the F
ederal Economic Chamber of Austria (WKÖ), expressed confidence in the growth of Austrian exports, investments, and business establishments in Morocco. He envisioned these developments playing a pivotal role in contributing to Morocco’s economic progress, forming a win-win partnership for both nations.
Austria currently holds the position of Morocco’s 10th largest trading partner, with exports totaling 2.14 billion dirhams and imports reaching 2.9 billion dirhams in 2022. In terms of foreign direct investment, Austrian ventures in Morocco amounted to 136 million dirhams in the same year.
As part of the collaborative efforts, a delegation of 11 Austrian companies, led by Wolfgang Hesoun, engaged in extensive discussions with Moroccan ministries and authorities in Rabat. The meetings included high-profile engagements with Leila Benali, the Minister of Energy Transition and Sustainable Development, as well as the Moroccan Agency for Investment and Export Development (AMDIE) and the Digital Development Agency (A
DD).
The Morocco-Austria Economic Forum, attended by representatives from several Moroccan and Austrian companies, serves as a pivotal platform to invigorate economic relations. The event facilitates discussions on business and partnership opportunities, particularly in sectors of mutual interest such as energy, industry, and finance.
Source: Agency Morocaine De Presse