IBOV 188,268.59 ▲ 1.42% IPSA 11,300.24 ▼ 0.62% IPC MEX 64,479.96 ▼ 0.52% MERVAL 3,142,643 ▲ 1.04% COLCAP 2,600.18 ▲ 0.63% BVL PERÚ 60,702.89 ▼ 2.17% USD/BRL5.10▼ 0.08% USD/MXN16.99▲ 0.58% USD/CLP940.57▲ 1.39% USD/COP3,081▼ 1.14% USD/PEN3.35▼ 0.13% USD/ARS1,513▼ 0.08% USD/UYU40.24▲ 3.05% USD/PYG5,868▲ 2.26% USD/BOB12.36▲ 1.91% USD/DOP58.60▲ 0.17% USD/CRC447.58▲ 1.69% USD/GTQ7.63▲ 3.04% USD/HNL26.85▲ 0.57% USD/NIO36.62▲ 0.34% USD/VES825.67▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.73▲ 2.40% EUR/BRL5.93▲ 0.38% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 188,268.59 ▲ 1.42% IPSA 11,300.24 ▼ 0.62% IPC MEX 64,479.96 ▼ 0.52% MERVAL 3,142,643 ▲ 1.04% COLCAP 2,600.18 ▲ 0.63% BVL PERÚ 60,702.89 ▼ 2.17% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
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Economic Opportunities Drive Macron’s Upcoming Morocco Trip

By · September 27, 2024 · 2 min read

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French President Emmanuel Macron is set to visit Morocco at the end of October, marking a significant step in reviving bilateral relations between the two nations.

This visit follows a period of diplomatic tensions and comes after Morocco’s King Mohammed VI extended an invitation to Macron, expressing optimism about the “promising horizons” for Franco-Moroccan relations.

The aim of this visit is to revitalize and renew a strong bilateral partnership across several strategic sectors. This move follows France’s symbolic decision to enhance its support for Morocco’s plan regarding Western Sahara.

This plan is viewed as a significant factor contributing to the cooling of relations between the two countries.

Western Sahara at the Heart of Tensions

On July 30, Paris provided more explicit support for Morocco’s autonomy plan for Western Sahara, viewing it as the “only basis” for resolving the nearly 50-year-old conflict.

Economic Opportunities Drive Macron's Upcoming Morocco Trip
Economic Opportunities Drive Macron’s Upcoming Morocco Trip.
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This stance, welcomed by Rabat, echoes the recognition by the United States, under Donald Trump, of Moroccan sovereignty over the territory in 2020. In return, Morocco agreed to normalize its relations with Israel.

This shift in France’s posture has angered Algeria, which supports the Polisario Front, a Sahrawi independence movement. In response, Algeria recalled its ambassador to Paris, further straining bilateral tensions.

Sahrawi independence activists have long demanded a self-determination referendum, planned in a 1991 ceasefire but never held.

Easing Long-Standing Tensions

Macron’s visit often discussed but repeatedly postponed since 2022, could also ease other long-standing tensions. His policy of rapprochement with Algeria, initiated after the diplomatic rupture between Algeria and Rabat in 2021, had irritated Morocco.

France’s decision to halve the number of visas granted to Moroccans in the same year had also fueled frustrations. A year later, Paris reversed this decision, restoring a more normal visa policy.

Other disputes had marred Franco-Moroccan relations, including allegations that Morocco had spied on Macron‘s and several ministers’ phones in 2019, which Rabat denied.

Despite these differences, the warming of relations between the two countries offers new economic and commercial opportunities.

Economic Opportunities and Renewable Energy

The improvement in relations between Paris and Rabat should allow French companies to regain a privileged position in Morocco.

Shortly after France’s support for Morocco‘s Western Sahara plan, the French engineering firm Egis was entrusted with extending the high-speed rail line between Kenitra and Marrakech.

Western Sahara, rich in solar and wind resources, holds strategic importance for Morocco’s economic development. The kingdom is betting on renewable energies and aims to become a key player in green hydrogen.

French companies, such as Engie, are already involved in large-scale projects, including the construction of a desalination plant and a wind farm. In parallel, Macron is working to maintain dialogue with Algeria, despite recurrent tensions.

After the re-election of Abdelmadjid Tebboune, the French president expressed his willingness to continue the work of memory and truth. He emphasized the importance of reconciliation between the two countries.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error

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