UAE and Morocco agreed to double trade and investment exchange over the next seven years, enhancing cooperation in priority sectors such as trade, investment, finance, banking, food security, industry, innovation, technology, energy, renewable energy, logistics, infrastructure, tourism, culture, education and health.
This agreement was reached during the meeting of the Joint Economic Committee, which was held in Rabat and chaired by the Ministers of Economy for both countries.
The UAE delegation included representatives from various government agencies and private sectors.
The committee comes within the framework of the keenness of the leaderships of the two countries to strengthen and upgrade the bonds of economic and trade relations to serve the future aspirations and visions of the two countries.
The UAE is the largest Arab investor in Morocco and the second in the world, with investments amounting to more than 50 billion dirhams (14 billion US dollars) by the end of 2021.
Moroccan investments in the UAE amounted to 289.9 million dirhams (79 million US dollars) by the end of 2020. The UAE’s investments in Morocco are based on various sectors of mutual interest, while Moroccan investments in the UAE vary between a number of economic sectors.
The UAE is Morocco’s second-largest Arab trading partner during 2021. During the committee meetings, the UAE minister reviewed a set of economic policies adopted by the UAE to support the investment environment and push it to more competitive and flexible levels.
The Moroccan minister praised the UAE government and the Abu Dhabi Fund for Development in supporting structured development projects in the Kingdom.
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