00:00So talk to us about these new cooperation agreements. How meaningful actually are they?
00:05Well, I mean, many of the agreements are MOUs and partnerships with no real concrete details, timelines or any funding amounts.
00:15So the immediate economic impact is limited.
00:19That said, it do cover important sectors for Senegal, such as energy, infrastructure, transport, agriculture.
00:25And, of course, cooperation on ports and highway can potentially improve trade.
00:31Morocco is already a major investor and trade partner to Senegal in banking, insurance and energy.
00:38So likely these new agreements will build on real ongoing economic ties.
00:43But, of course, the real impact depends on the implementation.
00:48Yeah, absolutely. As with any cooperation agreement.
00:51Is Morocco a key partner for Senegal right now?
00:54They are. Trade has been quadrupled between 2014 and 2024.
01:03Moroccan companies play a major role in Senegal's banking and insurance sectors.
01:10Local affiliates of Atitari Wafa Bank and BMC Group are among Senegal's largest lenders by asset.
01:18There's also the Moroccan OCP Group, one of the world's largest phosphate and fertilized producers.
01:23That are a key investor in Senegalese agriculture.
01:26And this deal comes as Senegal aims to strengthen its partnership with Africa, moving away from traditional partners like France.
01:37So, absolutely, I mean, Morocco is becoming more important for Senegal.
01:42And on Morocco's end, they see Senegal as a bit of a gateway into the continent as they strengthen their impact on the continent.
01:51So, yes, on both ends, this could be like a lucrative partnership.
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