Businesses from Saudi Arabia and Morocco are considering the establishment of a joint investment fund aimed at financing projects in both countries. A delegation of 30 prominent Saudi companies met with their Moroccan counterparts in Rabat this week to discuss this proposal.

The Saudi delegation’s visit coincided with Morocco’s extensive preparations for co-hosting the 2030 FIFA World Cup. The North African nation plans to invest nearly $34 billion in various projects related to the event, including improvements in rail, roads, airports, entertainment, logistics, and tourism.

Chakib Alj, president of the General Confederation of Moroccan Enterprises, noted that the discussions centered on the joint investment fund proposal, with plans for further talks to ensure its realization. He emphasized that Saudi Arabia enjoys strong relations with Morocco and expressed a desire to leverage these ties to expand partnerships and collaborate on projects with Saudi investors.

Hassan bin Mujeeb, Chairman of the Council of Saudi Chambers, stated that the delegation is eager to invest in sectors such as food industries, chemicals, mining, energy, renewable energy, and technology. He highlighted the importance of these investments in light of Morocco’s significant infrastructure projects ahead of the World Cup.

Saudi Arabia and Morocco have established robust commercial ties, with bilateral trade reaching nearly $2.9 billion in 2024. This trade balance is largely in favor of Riyadh, with Saudi exports to Morocco amounting to approximately $2.7 billion. Khalil Benjeloon, Chairman of the Moroccan-Saudi Business Council, acknowledged that while trade relations have strengthened, they still fall short of their potential due to various logistical challenges and customs procedures affecting the movement of goods.