The Italian Export Credit Agency (SACE), under the Ministry of Economy and Finance, revealed on Saturday, June 29, 2024, in the “Annual Report on Exports 2024” that total Italian exports to the Kingdom of Morocco amounted to 2.8 billion euros in 2023, compared to 6.5 billion euros to sub-Saharan Africa.
The same source expects exports of Italian products to the world to record an estimated growth of 3.7% in the current year and 7% in 2025.
The same report indicates that some countries are particularly promising for Italian products, thanks to their commitment to the development of growth, such as Morocco and Egypt, which constitute an outlet for Italy towards Africa, especially in the light of the “Mattei” plan with which Rome aims to lay new foundations for the economic and commercial partnership with the countries of the African continent.
Idris Al-Issawi, an economic expert, told Moroccan media Hess Press : “The government of Rome has recently turned towards the Maghreb region and Africa in general, as Morocco has become the center of Italian economic policy, given first of all its strategic location, being the closer to the country.
Mr. Al-Issawi mentioned “the action plan to implement the multidimensional strategic partnership that Morocco and Italy signed in 2019, which contributed to increasing the volume of trade between the two countries”. While adding that “today, Italy wants to create a balance in its relations with the countries of the Maghreb area”. Likewise, it also focuses on cooperation with Morocco in emerging areas, such as energy. And this, in order to restore the balance of its energy policy and reduce its dependence on traditional energy sources, in line with European objectives.
