UAE, Morocco to double trade & investment in seven years

UAE, Morocco to double trade & investment in seven years

UAE and Morocco have set a goal to double the volume of trade and investment exchanges between the two countries over the next seven years.

The two countries further agreed to strengthen cooperation in priority sectors in their economic agendas. These include trade, investment, finance, banking, food security, industry, innovation, technology, energy, renewable energy, logistics and infrastructure. In addition, the two countries agreed to promote the exchange of experiences and knowledge in the fields of tourism, culture, education and health.

This was agreed at the first ever UAE-Morocco Joint Economic Committee (JEC) session that took place recently in Rabat, in implementation of the agreement on trade, economic and technical cooperation between the two countries. The session was chaired by Abdullah bin Touq Al Marri, Minister of Economy and Nadia Fattah Al Alawi, Moroccan Minister of Economy and Finance.

Common interest

The JEC session was attended by a number of federal and local government officials and leading private sector companies operating in various sectors of common interest from both sides.

The UAE delegation that attended the session included representatives of the Ministry of Foreign Affairs and International Cooperation, the Department of Economy and Tourism in Dubai, Abu Dhabi Fund for Development, Federation of Chambers of Commerce