Bin Touq to head delegation on visit to Morocco tomorrow

Bin Touq to head delegation on visit to Morocco tomorrow

ABU DHABI, 8th June, 2022 (WAM) -- A high-level UAE delegation headed by Abdullah bin Touq Al Marri, Minister of Economy, will be visiting the Kingdom of Morocco tomorrow to explore prospects for enhanced cooperation in the next phase.

The meetings will also help explore promising investment opportunities in the markets of the two countries and strengthen them during the next phase, ensuring growth and prosperity for the people of the two fraternal 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. In addition, the visit will see meetings with a number of Moroccan ministers, senior government officials, and representatives of the private sector, apart from an interactive session on future investment opportunities, organised by the ‘Investopia’ summit. The session will bring together a number of companies, businesspersons, investors, entrepreneurs, and SMEs from the two countries to learn about new opportunities for building development and sustainable partnerships. These will help elevate the strategic relations between the two countries to higher levels of cooperation and integration, as well as utilise Investopia’s global experience in the development of economic and commercial sectors in Morocco.

The cooperation sectors are scheduled to be discussed during this visit, as they are the key drivers of the development of the two countries' relations in the next phase. These sectors primarily include 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 future economy.

Furthermore, Saeed Ahmed Al Dhaheri, Ambassador of the UAE to the Kingdom of Morocco, will be attending the delegation’s meetings there. The visiting UAE delegation comprises several government entities including the Ministry of Foreign Affairs and International Cooperation; the Federation of Chambers of Commerce and Industry; and the UAE International Investors Council; along with representatives of a number of private sector institutions and investment companies in the country. These include Sharaf Group, Abu Dhabi Future Energy Company (Masdar), Gulf Pharmaceutical Industries (Julphar), LIFCO, and Global Jet Technic.

The UAE-Morocco non-oil trade reached AED3.1 billion in 2021, achieving a 44 percent growth compared to 2020.