Casablanca – Italy and Morocco are solidifying their economic ties, as evidenced by the significant growth in Italian exports to Morocco, which reached approximately $3 billion in 2023. This substantial figure underscores Morocco’s pivotal role as a key market for Italian goods in North Africa, marking a strategic milestone in their bilateral economic relations.

According to the Italian Export Credit Agency (SACE) in its “2024 Annual Export Report,” Italian exports to North African countries collectively totaled about $15 billion, with an additional $7 billion to Sub-Saharan Africa. The report forecasts a continued upward trend in Italian exports worldwide, projecting growth rates of 3.7% this year and 7% next year, signaling robust expansion opportunities for Italian businesses across various sectors.

Morocco’s strategic geographic location, serving as the closest African nation to Europe, positions it as an ideal gateway for Italian companies aiming to penetrate broader African markets. This advantage is bolstered by initiatives like the “Mattei Plan,” which focuses on forging new economic partnerships with African countries, including Morocco and Egypt.

Italian exports to Morocco encompass a diverse range of high-demand products such as electronic equipment, household furniture, industrial machinery, and construction materials. The growing demand for these goods underscores Morocco’s importance as a pivotal trade partner for Italy, fostering mutual economic growth and cooperation.

Italy’s strategic pivot towards the Maghreb and Africa reflects its recognition of the region’s economic potential. The strategic partnership agreement signed between Morocco and Italy in 2019 has already yielded increased bilateral trade and paved the way for deeper economic collaboration. Italy aims to enhance its relations with Maghreb countries further, particularly through cooperative efforts in sectors like renewable energy, aligning with its commitment to sustainable development and energy security.

Morocco stands as one of Italy’s most significant trade partners in North Africa, fostering open economic dialogue despite Italy’s stronger historical ties with Tunisia and Libya. Morocco’s proactive engagement with Southern European and Northern Mediterranean countries aligns with existing agreements and memoranda of understanding with the European Union, facilitating enhanced market access and increased trade exchanges.

The burgeoning economic relationship between Italy and Morocco not only benefits both economies but also contributes to regional stability and prosperity. As Italy continues to explore new avenues for economic collaboration in Morocco and beyond, the partnership between these two countries is poised to unlock mutually beneficial opportunities, fortifying their economic resilience in a competitive global market landscape.