France, Morocco sign €10 bn in deals during Macron’s reset visit
France and Morocco reached agreements on Monday totalling “up to ten billion euros,” sources with direct knowledge to the matter told AFP, during French President Emmanuel Macron’s three-day visit to Morocco aiming to mend strained relations.
Several deals were signed in the presence of Macron and King Mohammed VI, with more expected on Tuesday, including on energy and infrastructure.
Macron’s trip was at the king’s invitation late in September, but also follows years of tense ties with Rabat.
A delegation of French ministers and business leaders accompanied Macron, while French and Moroccan flags flew alongside each other in the city’s main thoroughfares.
French Interior Minister Bruno Retailleau, Economy Minister Antoine Armand and Culture Minister Rachida Dati — herself of Moroccan origin — all traveled with the president.
Though specific contract details were not disclosed, French rail manufacturer Alstom is set to supply up to 18 high-speed train cars to Morocco according to the deals signed on Monday.
Energy company Engie and the Moroccan Phosphates Office meanwhile signed a renewables agreement with potential investments reaching up to 3.5 billion euros, according to AFP reporters.
France’s TotalEnergies also inked a deal to develop “green hydrogen” production in the north African country.
Macron’s visit follows years of strained relations between Paris and Rabat over a range of issues.
Those include France’s ambiguous stance on the disputed Western Sahara region and Macron’s quest for rapprochement with Algeria.
Western Sahara, a former Spanish colony, is largely controlled by Morocco but claimed by the Algeria-backed Polisario Front, which in 2020 declared a “self-defense war” and seeks the territory’s independence.
It is considered by the United Nations to be a “non-self-governing territory.”
Rabat and Paris have also been at odds after France in 2021 halved the number of visas it granted to Moroccans.
In July, Macron eased tensions by saying Morocco’s autonomy plan for the territory was the “only basis” to resolve the decades-old conflict.
France’s diplomatic turnabout had been awaited by Morocco, whose annexation of Western Sahara had already been recognized by the United States in return for Rabat normalizing ties with Israel in 2020.
Monday’s visit also comes after Macron’s rapprochement efforts with Algeria appear to have hit a dead end.
A state visit to Paris by Algerian President Abdelmadjid Tebboune was rescheduled multiple times before being called off by Algiers earlier this month.
After Macron endorsed Morocco’s autonomy plan, Algeria promptly withdrew its ambassador to Paris and has yet to send a replacement.