IBOV 175,664.62 ▲ 0.30% IPSA 11,445.90 ▼ 0.22% IPC MEX 65,484.32 ▼ 0.53% MERVAL 2,979,472 ▼ 0.72% COLCAP 2,457.87 ▼ 1.28% BVL PERÚ 60,779.49 ▼ 1.40% USD/BRL5.21▲ 0.23% USD/MXN17.02▼ 0.08% USD/CLP930.58— 0.00% USD/COP3,200▲ 1.20% USD/PEN3.35▼ 0.07% USD/ARS1,512▼ 0.03% USD/UYU40.27▲ 1.47% USD/PYG5,900▲ 1.27% USD/BOB11.78▲ 3.30% USD/DOP58.64▲ 1.02% USD/CRC446.65▲ 0.97% USD/GTQ7.62▲ 2.20% USD/HNL26.84▲ 0.40% USD/NIO36.62— 0.00% USD/VES793.00▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.72▲ 0.84% EUR/BRL6.03▲ 0.31% 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 175,664.62 ▲ 0.30% IPSA 11,445.90 ▼ 0.22% IPC MEX 65,484.32 ▼ 0.53% MERVAL 2,979,472 ▼ 0.72% COLCAP 2,457.87 ▼ 1.28% BVL PERÚ 60,779.49 ▼ 1.40% 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%
since 2009
Sunday, August 30, 2026

Africa Africa & Latin America

France and Morocco Prepare a Historic Friendship Treaty

By · July 16, 2026 · 6 min read

Africa Intelligence

A daily Africa read from a Latin American newsroom. Free.

By subscribing you agree to our privacy policy. We never share your email.

Africa · Northern

Key Facts

First-of-its-kind treaty. The pact would be the first friendship treaty France signs with a non-European country and Morocco’s first with a European partner in this format.

€10 billion ($10.9 billion) package. The October 2024 state visit produced 22 agreements worth roughly €10 billion ($10.9 billion), spanning rail, green hydrogen, water and education.

Western Sahara pivot. France’s 2024 endorsement of Moroccan sovereignty over the disputed territory unlocked the diplomatic reset between Paris and Rabat.

French FDI dominance. French firms account for 30.8% of Morocco’s total foreign direct investment stock, making Paris Rabat’s top economic partner.

Drafting underway. A committee of roughly a dozen experts is drafting the text, with a first version expected in 2026 and signing likely during a future Mohammed VI state visit to France.

Morocco and France are preparing to sign a landmark France-Morocco friendship treaty that will lock in decades of cooperation across defence, energy, investment and migration, marking the most ambitious bilateral framework either country has negotiated outside its traditional sphere.

Morocco and France prepare treaty to deepen strategic ties
Morocco and France prepare treaty to deepen strategic ties (Photo internet reproduction)
One-stop reference
Company Intelligence
Every listed company in Latin America — financials, ownership and structure for 1,450+ companies across 26 exchanges, in one place.
Browse the directory →
RT
Ask Rio Times
Latin American markets, currencies and companies.
Open the full Ask Rio Times →

What the treaty actually is

The proposed France-Morocco friendship treaty is not a symbolic handshake but a legally structured framework designed to govern relations for the next several decades. Moroccan Foreign Minister Nasser Bourita and his French counterpart Jean-Noël Barrot confirmed in May 2026 that negotiations are advanced, with a committee of about a dozen experts currently drafting the text.

Once finalised, it will be the first treaty of its kind France has signed with a non-European country and the first Morocco has signed with a European partner in this format. The pact builds directly on the “reinforced exceptional partnership” declared during President Emmanuel Macron’s state visit to Rabat in October 2024, which produced 22 agreements worth roughly €10 billion ($10.9 billion).

The money and the market logic

France remains Morocco’s leading economic partner, with French companies holding 30.8% of the kingdom’s total foreign direct investment stock. The Agence Française de Développement alone provided more than €1.2 billion ($1.3 billion) in financing to Morocco in 2022, concentrated on energy transition, urban development and vocational training.

The 2024 package added fresh commitments across rail infrastructure, green hydrogen, water management, civil protection and education. For French industrial and financial capital seeking stable access to African markets after setbacks in the Sahel, Morocco offers a regulated, investment-grade gateway with deep port infrastructure and free-trade access to the European Union.

The Western Sahara card and the great-power contest

No analysis of the France-Morocco friendship treaty works without understanding the Western Sahara file. France’s public endorsement of Moroccan sovereignty over the disputed territory in 2024 removed the single largest diplomatic obstacle between Paris and Rabat, aligning France more closely with the United States’ position and narrowing the space for Algeria-backed alternatives.

That concession was the political price of re-entry for a French government watching its military footprint shrink across Francophone Africa. As we track in our ongoing coverage of Africa: The New Scramble, the continent’s diplomatic map is being redrawn not just by great powers but by mid-sized states like Morocco that can deliver logistics, security cooperation and political cover south of the Mediterranean.

What the treaty covers: defence, energy and beyond

The October 2024 declaration explicitly listed cooperation areas including health security and vaccine production, water, agriculture, forest management, roads, rail and maritime infrastructure, urban mobility, connectivity, energy transition, renewables, artificial intelligence, security and defence, education, research, culture and sports. The treaty is expected to codify these into binding, long-term commitments.

Defence and security cooperation is particularly significant given France’s diminished military presence in the Sahel and Morocco’s growing role as a regional security actor. The framework gives Paris a structured channel for intelligence sharing, counter-terrorism coordination and defence-industrial collaboration without the political baggage of a permanent military base.

The South-South and Latin America read-through

For readers watching the reordering of global alliances, the France-Morocco treaty is a case study in how middle powers are extracting asymmetric benefits from great-power competition. Morocco is not choosing between Western and non-Western blocs but leveraging its geography, stability and infrastructure to command a premium from a former colonial power now in need of African partners.

The model echoes dynamics familiar in Latin America, where countries with critical minerals, logistics hubs or agricultural capacity are renegotiating terms with both traditional partners and new entrants. Morocco’s phosphate reserves, renewable-energy potential and automotive supply chains make it a comparable player for anyone tracking how resource-rich frontier markets are repositioning themselves.

What to watch next

The first draft of the treaty text is expected to circulate in 2026, with the final signing likely tied to a future state visit by King Mohammed VI to France. No date has been set, and officials on both sides caution that the precise wording, title and scope are still under negotiation.

The real test will be implementation speed: how quickly the treaty’s provisions translate into project finance, defence procurement and visa facilitation. Investors should watch the energy and rail segments most closely, as these are where the 2024 commitments were most concrete and where French engineering and finance houses have the deepest existing exposure.

Connected Coverage

Africa: The New Scramble

Frequently Asked Questions

What is the France-Morocco friendship treaty?

It is a comprehensive bilateral framework currently being drafted by a committee of experts from both countries, designed to govern cooperation across defence, energy, investment, migration, education and industrial policy for decades. Once signed, it will be the first treaty of its kind France has concluded with a non-European country and Morocco’s first with a European partner in this format.

Why did France and Morocco reset their relationship now?

The reset was triggered by France’s 2024 endorsement of Moroccan sovereignty over Western Sahara, which removed the central diplomatic obstacle between Paris and Rabat. France also needs reliable African partners after military setbacks in the Sahel, while Morocco wants to lock in investment and security cooperation with its largest economic partner.

How much French investment is at stake in Morocco?

French firms account for 30.8% of Morocco’s total foreign direct investment stock, and the October 2024 state visit alone produced 22 agreements worth roughly €10 billion ($10.9 billion). The Agence Française de Développement provided more than €1.2 billion ($1.3 billion) in financing in 2022, mostly for energy transition and urban development projects.

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

LatAm Markets: Live Signals → — real-time movers, turnover leaders and FX across Latin America.

Read More from The Rio Times

The Rio Times · Power Map
See who really holds power in Latin America
Click to open the Power Map

Rotate for Best Experience

This report is optimized for landscape viewing. Rotate your phone for the full experience.