• Cairo

  • Thursday, February 22, 2024 at 4:05:35 PM
    Last Update : Friday, February 23, 2024 at 10:18 AM

Spanish PM Expects His Country’s Investments in Morocco to Reach 45 Billion Euros By 2050

(AWP) - Spanish Prime Minister Pedro Sanchez concluded his visit to Morocco on Wednesday with an official meeting with King Mohammed VI in Rabat, during which he announced that his country expects its investments in Morocco to reach 45 billion euros by 2050.

The Moroccan Royal Court said in a statement that the visit falls within the framework of the continuity of the dynamics initiated by the new phase of bilateral relations, which launched after the King met with Sanchez in April 2022.

The statement added that during the meeting, Sanchez "reaffirmed Spain's position as described in the joint statement of April 2022, considering the Moroccan autonomy initiative as the most serious, realistic and credible basis for settling this dispute" regarding the Moroccan Sahara.

The two sides stressed the prospects for cooperation between the two neighbouring countries are “strengthened by the additional lever of the joint organisation – with Portugal – of the 2030 FIFA World Cup.”

The Spanish Prime Minister stressed his country's interest in the strategic initiatives launched by Morocco, especially the initiative of African countries bordering the Atlantic Ocean, the royal initiative to enhance the access of the African Sahel countries to the Atlantic Ocean, as well as the African Atlantic Nigeria-Morocco gas pipeline, according to the statement.

He said during a press conference at the end of the visit that he praised what he described as “the positive progress that has been made in trade between the two countries, which has led to the development of investments in all directions.”