"The Moroccan economy has undergone remarkable modernization in recent decades, thanks to the commitment of the authorities to improve the investment climate, creating many opportunities," said Ricardo Santamaría, director at the Country Risk and Debt Management Department at CESCE, during an economic day held recently in Madrid.

Morocco also enjoys political stability and economic growth potential that will allow the country to strengthen its position as a development hub in the region, said Santamaría, emphasizing the importance of trade relations between Morocco and Spain. Last year, 18,000 Spanish companies exported goods to Morocco for a value of €7.4 billion euros, he said.

In the same vein, Lucía Bonet, country risk analyst at CESCE, underlined that under the leadership of HM King Mohammed VI, Morocco "has undergone a profound transformation."

The Spanish analyst also praised Morocco's growing position as a regional power, its strengthened strategy in sub-Saharan Africa, its return to the African Union and its position as a mediator in regional conflicts.

In addition, "it is worth highlighting the expansion of the automotive sector, which has made Morocco the leading exporter of cars on the African continent," she said, adding that "Renault, Dacia and Peugeot, for example, are based there and the Chinese company BYD has announced that it will manufacture its electric cars in Morocco."