At the opening session of the 3rd Marrakech Economic Parliamentary Forum for the Euro-Mediterranean and Gulf regions, Ould Errachid emphasized that, under the enlightened leadership of HM King Mohammed VI, Morocco continues to actively support multidimensional development efforts, through launching regional initiatives aimed at achieving comprehensive development and bolstering energy and food security across the region.
In this context, he highlighted the strategic significance of the Royal Atlantic Initiative, which seeks to facilitate access for Sahel countries to the Atlantic Ocean. As part of this pioneering initiative, Morocco will make its advanced infrastructure, including modern road and rail networks and ports, available to help integrate these countries into the global commercial ecosystem.
This initiative aims to enhance the capacities of these nations to diversify their economies and increase local added value, ultimately contributing to the prosperity and improved living conditions of more than 95 million people, he explained.
Describing it as a unique logistical corridor on both regional and international levels, Ould Errachid said the project will link Sahel countries to the Dakhla Atlantic Port in southern Morocco and open a gateway to the Atlantic economic area. This connection will be further expanded through an integrated port network stretching from the Atlantic to the Mediterranean and the Gulf.
He noted that this ambitious project presents a tremendous commercial opportunity to connect Africa with the Euro-Mediterranean and Gulf regions, foster regional integration, develop value chains, and boost trade between these strategic areas.
Turning to the ongoing African Atlantic Gas Pipeline project, developed through close cooperation between Morocco and Nigeria, Ould Errachid stated that it will help tap into the continent’s energy potential and improve access to vital energy resources for West African countries, accelerating their socio-economic development.
Thanks to the multiple opportunities it offers for transporting natural gas and, at a later stage, green hydrogen, this project is a fundamental lever for ensuring energy sovereignty in the Euro-Mediterranean area, he noted, adding that once completed, it will be the largest energy logistic hubs, reinforcing Africa’s position as a strategic global energy supplier.
In this respect, Ould Errachid said the achievement of the desired economic integration between the Gulf region and the Euro-Mediterranean area relies on the creation of common production circuits capable of strengthening the industrial sovereignty of countries, particularly in strategic sectors such as semiconductor manufacturing, space industries, cybersecurity systems, cloud computing and massive data storage, as well as industries linked to new energies and their means of storage and transport.
The Speaker of the House of Councillors also stressed the importance of investing in human capital and improving joint financing mechanisms, two fundamental pillars of this process.
To achieve this, he called for interconnecting national capital markets, creating regional banks and investment funds to support this vision, and strengthening cooperation between academic institutions and scientific research laboratories, in addition to developing innovative mechanisms for the exchange of best practices.
Parliaments have a central role in achieving these objectives and drafting appropriate legislation to facilitate integration, cooperation and partnership, Ould Errachid concluded.
Under the High Patronage of HM King Mohammed VI, the 3rd Marrakech Economic Parliamentary Forum for the Euro-Mediterranean and Gulf regions, initiated by the House of Councillors and the Parliamentary Assembly of the Mediterranean, aims to explore the main challenges and opportunities facing the global economy, particularly in the Euro-Mediterranean and Gulf regions, with a particular focus on legislative action and the role of parliamentarians in bringing about the desired change.