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UAE sends ministerial delegation to Morocco to boost trade

UAE Minister of Economy, Abdulla bin Touq Al Marri leads delegation to Morocco Creative Commons
UAE Minister of Economy, Abdulla bin Touq Al Marri leads delegation to Morocco
  • Sectors on agenda include technology, renewable energy and tourism
  • Non-oil trade between countries reached $840 million in 2021

The United Arab Emirates’ minister of economy, Abdulla bin Touq Al Marri, will today lead a high level delegation to Morocco to discuss ways to boost bilateral investment between the two Arab countries.

“The visit aims to promote cooperation between the business communities of the two countries and motivate the private sector and entrepreneurs to contribute further to the development of the trade and economic partnership between the UAE and Morocco,” the ministry said in a statement.

The visit will include meetings with several Moroccan ministers, senior government officials, and representatives from the Moroccan private sector.

The trip will also coincide with the staging of the Investopia summit, which will explore future investment opportunities between the two countries, especially for small and medium-sized enterprises.

Sectors that will be of primary focus during the talks include renewable energy, mining, tourism, information and communications technology, food security, transport and logistics, and agricultural technology.

Non-oil trade between Morocco and the UAE reached AED 3.1 billion (US$840 million) in 2021, a year-on-year growth of 44 percent.

The Moroccan government has also prioritised offering state aid to companies setting up industrial projects in remote regions of the country, as part of its plan to boost private investment in its economy.

Investment Minister Mohcen Jazouli told Reuters in May the government was seeking to increase the private sector’s share of total investment in the economy to two thirds by 2035, up from one third at present.

The two countries have reported a number of trade and economic partnerships recently.

The Moroccan Agency for Sustainable Energy (Masen) and the Ministry of Energy Transition and Sustainable Development in April officially announced that the UAE-based AMEA Power had been awarded two solar power plant projects of 36mw each, following an international tender.

Dubai’s Emirates and Royal Air Maroc in May also signed a codeshare partnership, boosting travel options for customers flying between Dubai and Casablanca.

Under the deal, Emirates customers will be able to access 17 destinations in Morocco beyond Casablanca, as well as to 63 international destinations, including North, West and Central Africa.