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RIYADH: Economic ties between Saudi Arabia and Morocco are set to strengthen, especially in the field of energy extraction, as an official delegation from the Kingdom visits the northwestern African country to explore opportunities for cooperation.

On June 3, Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef began his official visit to Rabat.

According to the Saudi Press Agency, he will lead the Kingdom’s delegation to the 28th session of the General Assembly of the Arab Organization for Industrial Development, Standardization and Mining, which will be held on June 4-6 in the Moroccan capital.

According to Alkhorayef, he and Moroccan officials discussed ways to strengthen cooperation in key areas. “We also explored the promising investment opportunities available in both countries and opened new horizons for a sustainable partnership,” the Saudi minister said.

He added that he reviewed the achievements of Saudi Vision 2030 with a group of Moroccan opinion leaders and economic analysts, focusing on the industrial and mining sectors.

“We also exchanged views on a number of economic issues, emphasizing the importance of the media and its key role in spreading awareness and achieving development goals,” he said.

Meanwhile, the Minister of Industry held talks with Leila Benali, Moroccan Minister of Energy Transition and Sustainable Development, and Nadia Fettah, Moroccan Minister of Economy and Finance. Officials discussed strengthening economic cooperation between the two kingdoms.

During the meeting, opportunities for cooperation and partnership in the mining sector were also discussed, including the development of the phosphorus industry, using the accumulated experience of both countries to increase the competitive advantage of phosphorus fertilizers and access to new markets.

They also discussed cooperation in regional trade, including overcoming obstacles to the import and export of essential minerals in the region, as well as cooperation in export development and supporting the promotion of Saudi exports in Morocco.

The meetings were attended by Khalid bin Saleh Al-Mudaifer, Saudi Deputy Minister of Industry and Mineral Resources for Mining, and Sami bin Abdullah Al-Saleh, Saudi Arabia’s ambassador to Morocco.

Additionally, Alkhorayef held a meeting with the heads of the largest mining companies in Morocco, which was attended by some of the most important investors in this industry in the country.

The session focused on strengthening cooperation and reviewing the significant investment opportunities offered by the Saudi mining sector, as well as the services and incentives the Kingdom’s ministry offers to investors.

The meeting also shed light on the ministry’s efforts and plans to develop the mining sector based on Saudi Arabia’s vast mineral wealth, estimated at over SR9.3 trillion ($2.48 trillion).

Moreover, during the meeting, which was also attended by Benali, the possibilities of cooperation in the field of mining and the use of mineral resources available in both countries were explored.

The meeting, held at the Moroccan Ministry of Energy Transition and Sustainable Development, reviewed Saudi Arabia’s comprehensive metals and mining strategy, the mining investment regime, and the sector’s legal framework and regulations.

In its report, SPA added that Alkhorayef plans to meet with several government and private sector leaders and heads of mining companies, adding that the minister will visit Moroccan companies and factories to strengthen cooperation in the industrial and mining sectors and explore investment opportunities.