"Trade relations between Morocco and Spain are buoyant. Morocco is an essential partner," said Albares during a meeting with Moroccan businessmen.

He added: "Spain is Morocco's biggest customer, while Morocco is Spain's third-largest supplier worldwide. We're looking to increase trade with Morocco in a number of sectors.”

The success of Morocco's electricity sector demonstrates the country's economic integration into global value chains, according to the Spain’s top diplomat, who sees a need to strengthen cooperation in the fields of renewable energies and aeronautics, as well as in other strategic sectors.

He also stressed the importance of decarbonizing the economy and investing in infrastructure and sanitation, pointing out that Spanish companies are present in Morocco in industry, finance and tourism.

Albares also noted that the value chains of Morocco and Spain are highly complementary, advocating the consolidation of these chains to intensify cooperation in different sectors. According to him, the co-hosting of the Football World Cup in 2030 is an opportunity to create an area of shared prosperity.

The Spanish minister also said that his country, which has an important experience in strategic projects such as transport, industry and drought control, is fully prepared to back Morocco in the implementation of strategic plans.

The meeting was attended by the President of the General Confederation of Moroccan Enterprises (CGEM), Chakib Alj, and the Co-Presidents of the Moroccan-Spanish Economic Council (CEMAES), Adil Rais and Clemente Gonzalez.

During his visit to Morocco, Albares was received by the Head of Government, Aziz Akhannouch, and held talks with the Minister of Foreign Affairs, African Cooperation and Moroccan Expatriates, Nasser Bourita.