Saudi Arabia eyes untapped opportunities in Mauritania, Morocco.
Saudi Arabia is strengthening its trade and investment ties with Africa as more than 30 top investors and officials visit Mauritania and Morocco to explore opportunities across multiple sectors.
The delegation, led by the Federation of Saudi Chambers, began an official visit to Northwest Africa on June 29. The agenda includes meetings to highlight investment incentives, assess the business climate, and identify partnership opportunities in key economic sectors, according to the Saudi Press Agency.
The mission aims to promote the Kingdom’s investment prospects and foster collaboration between Saudi companies and their African counterparts, thereby advancing trade and economic cooperation.
This initiative is part of the FSC’s broader efforts to enhance international economic ties and align with Saudi Arabia’s Vision 2030 strategy, which focuses on diversifying the Kingdom’s economic base and expanding global partnerships. It also reflects Riyadh’s growing interest in deepening commercial engagement with African nations.
“Both sides hope that this visit will open new horizons for trade and investment relations,” SPA reported, noting that trade with Mauritania reached SR119 million ($32.13 million), with Saudi exports accounting for 99 percent.
Trade with Morocco totaled SR5 billion, with 13 percent of this amount representing imports, signaling untapped investment opportunities that the visit aims to uncover.
Source: Arabnews