The UAE’s Minister of Economy will lead a delegation to Morocco to explore how the two countries can strengthen economic ties.
Abdullah bin Touq Al Marri, the UAE’s Minister of Economy will lead a high-level delegation to the Kingdom of Morocco to discuss how the two countries might bolster economic cooperation and increase mutual investment flows. The delegation will leave the UAE for Morocco today (9 June).
The visit seeks to bring the business communities of Morocco and the UAE together and to support the private sector and entrepreneurs in contributing to trade and economic partnerships between the two countries. Al Marri will meet with a series of Moroccan ministers, government officials, and members of the private sector and will be part of an investment summit organized by Investopia intended to highlight promising sectors.
The Investopia summit will bring together companies, businesspersons, investors, entrepreneurs, and SMEs from Morocco and the UAE and will present opportunities for building long-lasting and sustainable partnerships.
Representatives from the government and the private sector
Saeed Ahmed Al Dhaheri, Ambassador of the UAE to the Kingdom of Morocco, will support the delegation’s efforts. The visiting team is made up of representatives of the Ministry of Foreign Affairs and International Cooperation, the Federation of Chambers of Commerce and Industry, and the UAE International Investors Council. A number of private interests are also represented, including Sharaf Group, Abu Dhabi Future Energy Company (Masdar), Gulf Pharmaceutical Industries (Julphar), LIFCO, and Global Jet Technic.
Morocco: Sectors of interest
The delegation is expected to discuss opportunities in a range of sectors, including energy and renewable energy, industry, trade, and mining, tourism and infrastructure, Information and Communications Technology (ICT), food security, transport and logistics, agricultural technology, entrepreneurship, and other sectors supporting the Moroccan economy as the government seeks to diversify.
Earlier in the year, a Moroccan trade delegation to the UAE presented opportunities in the country’s mining and minerals sector. The sector accounts for 10% of the country’s GDP.
UAE companies have recently embarked on investments and projects within Morocco’s energy sector, with Masdar and AMEA Power working on solar power projects.
UAE-Morocco non-oil trade reached USD 843 million in 2021, an increase of 44% compared to 2020. Morocco is a member of the African Continental Free Trade Agreement (AfCFTA), which would provide UAE-based companies with access to a market of 1.3 billion people with an estimated total gross domestic product of USD 3.4 trillion.