Casablanca – Economic relations between Morocco and Canada are entering a phase of sustained expansion, driven by a strong rise in direct investment flows and steady growth in bilateral trade. Recent data released by Canada’s Department of Foreign Affairs indicate that cooperation between the two countries is increasingly structured around long-term strategic interests, sectoral diversification, and shared priorities related to sustainability and inclusive development.

In 2024, bilateral trade between Morocco and Canada reached an estimated $1.34 billion, confirming Morocco’s position as Canada’s third-largest trading partner in Africa and the second-largest African destination for Canadian exports. This level of trade reflects the growing integration of Morocco into Canada’s African economic strategy and highlights the country’s role as a key gateway to regional and international markets.

Investment trends provide further evidence of the strengthening partnership. Canadian direct investment in Morocco increased by 270 percent between 2022 and 2023, reaching approximately $209 million. This sharp rise points to renewed confidence among Canadian investors and a strategic repositioning toward Morocco as a stable and competitive destination for long-term capital.

Canadian investments are primarily concentrated in mining, energy, and education, sectors aligned with Morocco’s development priorities and industrial strategy. At the same time, Canadian companies are expanding their activities in aerospace, automotive manufacturing, agri-food industries, and digital technologies, reflecting a broader engagement with Morocco’s evolving industrial and services landscape.

Morocco’s emergence as a logistics and industrial platform has played a decisive role in attracting foreign investment. The country benefits from an extensive network of free trade agreements, notably with the European Union, the United States, and the African Continental Free Trade Area. This framework allows companies operating in Morocco to access multiple markets while benefiting from competitive production conditions and steadily improving infrastructure.

Large-scale infrastructure projects are reinforcing this momentum. Preparations linked to the 2030 World Cup, along with the national airport modernization program, are generating demand for expertise in engineering, construction, transport systems, and logistics technologies. These initiatives are opening new opportunities for Canadian firms specializing in infrastructure development, mobility solutions, and advanced transport technologies.

Climate cooperation has become an increasingly important component of the Morocco–Canada partnership. Canada has highlighted its contribution of approximately $333 million to the Green Climate Fund, part of which supports climate transition efforts in Morocco. This engagement aligns with Morocco’s investment plans in renewable energy, including solar, wind, and green hydrogen projects, areas where Canadian companies possess recognized expertise in clean and low-carbon technologies.

In parallel, cooperation extends through multilateral financial institutions such as the African Development Bank and the European Bank for Reconstruction and Development, which support projects in infrastructure, energy, and climate adaptation. This multilateral dimension enhances the depth and resilience of economic cooperation between the two countries.

Education remains a strategic pillar of bilateral relations. In 2024, more than 6,100 Moroccan students were studying in Canada, reflecting sustained growth in academic mobility and institutional partnerships. Academic cooperation continues to expand, supported by joint programs and research initiatives. In addition, technical and vocational training has been identified as a promising area for further collaboration, particularly in sectors linked to industry, energy, and digital skills, where workforce needs are evolving rapidly.

On the development front, Canadian programs implemented in Morocco focus on inclusive economic growth, poverty reduction, gender equality, and climate resilience. These initiatives aim to strengthen local capacities while supporting national reform priorities. Special emphasis is placed on women and vulnerable groups, notably through support for climate-resilient agriculture, access to training, and initiatives designed to promote economic empowerment and long-term income generation.

Looking ahead, both countries see significant potential for expanding cooperation in strategic minerals, including phosphates and cobalt, which play a critical role in global supply chains and the energy transition. Morocco’s resource base, combined with Canada’s expertise in responsible mining and processing, offers opportunities for collaboration that align economic objectives with sustainability standards.

The partnership is also expected to grow in areas related to digital transformation and cybersecurity, as Morocco’s technology sector continues to develop and demand increases for secure digital infrastructure and advanced technological solutions. Canadian firms are increasingly exploring opportunities in these fields, alongside continued participation in Morocco’s aerospace and automotive value chains.

Recent developments illustrate a maturing and increasingly diversified economic relationship between Morocco and Canada. Built on trade expansion, rising investment, and cooperation in priority sectors, the partnership is viewed by both sides as a strategic component of their broader economic and development agendas, with further growth anticipated in the years ahead.