Business. Moroccan and Mauritanian investors want to shift gears

The private sector in the two countries intends to pull out all the stops to increase investment on both sides of the border. In this sense, the two employers, CGEM and UNPM encourage their respective members to work together to identify opportunities.

The General Confederation of Moroccan Enterprises (CGEM) and the National Union of Mauritanian Employers (UNPM) want to join forces to stimulate investment in both Morocco and Mauritania. It is in this perspective that on September 20 in Casablanca, the two partners organized the second edition of the Morocco-Mauritania Economic Forum, which brought together an audience of Moroccan and Mauritanian investors. In fact, no less than 140 Mauritanian economic actors representing different sectors, led by the President of the National Union of Mauritanian Employers, Mohamed Zine El Abidine Ould Cheikh Ahmed, participated in this forum together with their Moroccan counterparts. . This high volume of business gave the various participants the opportunity to discuss the opportunities on both sides of the borders.

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It must be said that although they border, the relationship between the two countries’ private sectors still needs to be deepened on several levels. “Our ambition today is to raise Moroccan-Mauritanian relations to an even higher level on all fronts and especially on the economic front”, assured Nadia Fettah Alaoui, Minister of Economy and Finance, in her opening speech. She also pointed out that the relationship between Morocco and Mauritania has experienced a new momentum over the past two years with the aim of developing ties between the two countries. “This new dynamic will make it possible to promote South-South cooperation in its two Arab and African components”, she continued, adding that the holding of this economic forum came to dedicate this cooperation dynamic and to give visibility to the actors . about the possibilities of being caught. It should also be remembered that the level of trade between Morocco and Mauritania reached 2.3 billion DH, which remains below the ambitions shown on both sides.

For his part, the president of CGEM, Chakib Alj, indicated that Moroccan economic actors are ready to work with their Mauritanian counterparts on all fronts. In particular, he mentioned in his speech several sectors such as the fishing sector, where he assured that there is a desire to cooperate to increase the value of fish products, and this by investing in processing plants. “The energy sector is just as crucial. Mauritania has sufficient geographical and climatic potential to succeed in its energy transition, cover its need for renewable energy and reduce its production costs. To this end, Moroccan companies are ready to use their considerable experience in this field to build, in partnership with local players, solar and wind units,” he said.

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Chakib Alj also highlighted the Moroccan pharmaceutical industry, the infrastructure sector and many others and also noted the need to establish a permanent dialogue between the two parties. “As neighboring countries, we share the same challenges, the same ambitions and therefore a common future that we can now build together. Hand in hand we can anticipate global economic shocks, hand in hand we can position our economies on the new value chains that are being reshaped”, assured the president of CGEM. As a reminder, the first Morocco-Mauritania Economic Forum took place in 2018 in the Mauritanian capital with the participation of more than a hundred Moroccan businessmen.

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