Spain and Morocco seal a historic agreement to modernize the Moroccan railway system

 

The Ministry of Economy, Trade and Enterprise of Spain and the Ministry of Economy and Finance of Morocco have agreed on a financial protocol that facilitates the acquisition of 40 high-speed intercity trains, intended for the transformation of the Moroccan railway system. The financing, channeled through the Fund for the Internationalization of Businesses (FIEM), represents a milestone in bilateral cooperation and a crucial boost for infrastructure projects related to the 2030 World Cup.

 

The financial operation has been materialized through a credit agreement between the Official Spanish Credit Institute (ICO) and the National Railway Office of Morocco (ONCF), with the sovereign guarantee of the Kingdom of Morocco.

 

The Spanish company CAF, recognized worldwide for its experience in the manufacture of trains, will be responsible for supplying the new intercity trainsThese state-of-the-art vehicles, designed to operate at speeds of up to 200 km/h, will significantly improve connectivity between major Moroccan cities, offering passengers greater levels of comfort and efficiency.

 

The impact of this project will extend beyond the Moroccan borders. It is estimated that the manufacture of the trains will generate 1.000 direct jobs annually in Spain, as well as 3.000 indirect jobs, boosting the Spanish railway sector. In addition, this agreement will contribute to the development of the railway ecosystem in Morocco, promoting the transfer of knowledge and technology.

 

The National Railway Office of Morocco (ONCF) will oversee the execution of the project, ensuring that quality standards and deadlines are met. This collaboration reinforces Spain's position as a leader in the development of sustainable infrastructure and consolidates the economic and business relationship between the two countries.

 

The recent visit of the Secretary of State for Trade to Morocco underlines Spain's commitment to the internationalisation of its companies and the promotion of opportunities in the Moroccan market, especially in the context of the 2030 World Cup.

 

Bilateral Economic Relations:

 

The solid economic relationship between Spain and Morocco is reflected in the high volume of trade, which exceeds 22.500 billion euros annually. Spain has established itself as Morocco's leading trading partner, and Spanish exports to the country continue to increase.

 

In addition, Morocco has become the Main destination for Spanish investment in Africa, with an investment stock of close to 2.000 billion euros and the creation of more than 27.000 jobs. The presence of more than 350 Spanish companies in Morocco, operating in strategic sectors such as energy, infrastructure, automotive, banking and technology, demonstrates the trust and mutual interest in strengthening economic ties.