ECONOMY

Morocco’s Industry Minister, Saudi Peer Discuss Strengthening Industrial Integration

Morocco’s Industry Minister, Saudi Peer Discuss Strengthening Industrial Integration

Rabat – Minister of Industry and Trade, Ryad Mezzour, held on Wednesday in Rabat talks with the Saudi Minister of Industry and Mineral Resources, Bandar Bin Ibrahim Al-Khorayef, on strengthening industrial integration.

During this meeting, the two ministers agreed to form a work team dedicated to implementing economic projects, with the aim of consolidating industrial integration. This initiative aims to increase the competitiveness, effectiveness and resilience of the industrial sector, all while meeting the shared aspirations of the two countries.

In a statement to the press, Mezzour noted the importance of meeting the technological requirements in favor of economic growth, to generate riches and to increase market shares on both the national and the international levels.

Highlighting the need to reinforce Morocco’s technological sovereignty, the minister pointed to the need of modernizing local industries and promoting common investments to reach global levels of competitiveness, namely in the automotive, aeronautics and agri-food industries.

For his part, Al-Khorayef said that the work team that will be in charge of collaboration between both Kingdoms in terms of supply and value chains will focus on the development of technologies, the exchange of expertise and the training of human resources.

The goal is to create a shared framework to promote the industrial integration and increase commercial exchanges and bilateral investments, he added, stressing that Morocco’s solid industrial foundation is an undeniable added value to this cooperation.

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