The total trade exchange for the year 2023 for non-oil exports from Saudi Arabia to Morocco reached 2.8 billion Saudi riyals, while the total non-oil imports from Morocco reached 600 million Saudi riyals.
contract and Minister of Industry and Mineral Resources The Saudi, Bandar bin Ibrahim Al-Khorayef, met with officials of major mining companies in the Kingdom of Morocco and the most prominent investors in this sector.
The meeting reviewed the most prominent features of the comprehensive strategy for mining and mineral industries in the Kingdom, the mining investment system, in addition to the legislative frameworks and regulations for the sector, and the initiatives provided by the Ministry to investors with the aim of motivating them and facilitating licensing procedures for them.
The meeting was held at the headquarters of the Moroccan Ministry of Energy Transition and Sustainable Development, in the presence of the Minister of Energy Transition and Sustainable Development of Morocco, Dr. Leila Benali, and a number of officials from major Moroccan mining institutions, including the CEO of the “Group” Mines” He is the representative of the Office Chérifien des Phosphates (OCP) group, and the President of the Mining Industrial Federation, along with the Director General of the National Office of Hydrocarbons and Minerals.
Also Read: Saudi authorities started to execute punishments for people violating hajj rule
The meeting witnessed the presence of the Deputy Minister of Industry and Mineral Resources for Mining Affairs, Engineer Khalid bin Saleh Al-Mudaifer, and the focus was on the Ministry’s efforts and plans towards developing the mining sector and benefiting from the Kingdom’s enormous mineral wealth, the value of which is estimated at more than 9.3 trillion riyals.
Opportunities for cooperation in the field of mining and benefiting from the mineral resources available in both countries were also explored.
This initiative comes within the framework of trade relations between the Kingdom of Saudi Arabia and the Kingdom of Morocco for the year 2023, as the total non-oil exports from Saudi Arabia to Morocco amounted to 2.8 billion Saudi riyals, while the total non-oil imports from Morocco amounted to 600 million Saudi riyals.
The Kingdom’s most important exports include chemicals, polymers, building materials, and packaging, while the Kingdom’s most important imports include textiles, food products, and cars.
The Saudi Industrial Development Fund’s contribution to financing projects partnered with Morocco also stands out, with two projects worth 702 million riyals. In addition, there are Moroccan industrial investments in Saudi Authority for Industrial Estates cities and technology zones, including three projects in partnership with Saudi investors.
