Saudi Arabia Strengthens Trade and Investment Ties with Mauritania and Morocco
Delegation of top investors and officials from Saudi Arabia aims to explore economic opportunities in Northwest Africa.
JEDDAH: 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 (FSC), began an official visit to Northwest Africa on June 29.
Meetings are scheduled 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.
According to SPA, both sides hope that this visit will open new horizons for trade and investment relations.
Trade with Mauritania reached SR119 million ($32.13 million), with Saudi exports accounting for 99 percent of the total.
Trade with Morocco was valued at SR5 billion, indicating potential investment opportunities.
The delegation is led by FSC Chairman Hassan Moejeb Al-Huwaizi, who will hold talks with Mauritanian officials and business leaders in Nouakchott during a two-day mission aimed at strengthening bilateral economic ties and fostering strategic partnerships across various sectors.
A joint Saudi-Mauritanian business forum will be held to explore cooperation opportunities, featuring participation from the Ministry of Industry and Mineral Resources, the Ministry of Investment, the General Authority of Foreign Trade, and the Saudi Fund for Development.
Currently, Saudi exports dominate the trade balance with Mauritania, while imports remain limited at around SR100,000.
Mauritanian imports primarily consist of fish and shellfish, tea and spices, textiles, unstitched garments, as well as medical and optical instruments.
The trade volume between Saudi Arabia and Morocco stands at SR5 billion, with 13 percent representing imports.
In 2024, Riyadh and Rabat signed a cooperation agreement between their chambers of commerce aimed at deepening economic ties.
The pact facilitates financial collaboration, information exchange, joint events, trade delegations, and dispute resolution to promote stronger business partnerships.
With this African outreach, the FSC continues its international expansion efforts having recently completed trade missions to 17 countries as part of its Vision 2030-driven strategy to open new markets and boost trade and investment.
The delegation, led by the Federation of Saudi Chambers (FSC), began an official visit to Northwest Africa on June 29.
Meetings are scheduled 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.
According to SPA, both sides hope that this visit will open new horizons for trade and investment relations.
Trade with Mauritania reached SR119 million ($32.13 million), with Saudi exports accounting for 99 percent of the total.
Trade with Morocco was valued at SR5 billion, indicating potential investment opportunities.
The delegation is led by FSC Chairman Hassan Moejeb Al-Huwaizi, who will hold talks with Mauritanian officials and business leaders in Nouakchott during a two-day mission aimed at strengthening bilateral economic ties and fostering strategic partnerships across various sectors.
A joint Saudi-Mauritanian business forum will be held to explore cooperation opportunities, featuring participation from the Ministry of Industry and Mineral Resources, the Ministry of Investment, the General Authority of Foreign Trade, and the Saudi Fund for Development.
Currently, Saudi exports dominate the trade balance with Mauritania, while imports remain limited at around SR100,000.
Mauritanian imports primarily consist of fish and shellfish, tea and spices, textiles, unstitched garments, as well as medical and optical instruments.
The trade volume between Saudi Arabia and Morocco stands at SR5 billion, with 13 percent representing imports.
In 2024, Riyadh and Rabat signed a cooperation agreement between their chambers of commerce aimed at deepening economic ties.
The pact facilitates financial collaboration, information exchange, joint events, trade delegations, and dispute resolution to promote stronger business partnerships.
With this African outreach, the FSC continues its international expansion efforts having recently completed trade missions to 17 countries as part of its Vision 2030-driven strategy to open new markets and boost trade and investment.
