Hassan Berkani, president of the Casablanca-Settat Chamber of Commerce, Industry and Services, affirmed that the UAE is the largest Arab investor in the Kingdom of Morocco and the second-largest globally. He further expressed expectations of a doubling in investment volumes in the coming years.
In a statement to the Emirates News Agency (WAM), Berkani said that UAE-Moroccan relations have witnessed significant development in recent years. According to statistics from the Office des Changes in Morocco, UAE exports to Morocco reached around MAD13.187 billion (AED4.85 billion or $1.32 billion) in 2023, while Moroccan exports to the UAE amounted to about MAD2.019 billion (AED742 million or $202 million) in the same year.
Read more: UAE’s overseas investments surpass $2.5 trillion mark in early 2024
Berkani further explained that the Casablanca-Settat Chamber and the Dubai International Chamber have signed a partnership agreement to enhance institutional cooperation. This is expected to pave the way for increased trade and investment exchange between businessmen from both countries.
Moreover, the statement was made on the sidelines of the second stop of the trade mission organised by the Dubai International Chamber. The trade mission visited both Senegal and Morocco.
Expanding bilateral cooperation
In 2023, the UAE and Morocco signed 12 memoranda of understanding (MoUs) to improve bilateral cooperation in various fields. The MoUs covered several fields. These included an investment partnership in a high-speed train project in Morocco. The investments also included the water sector, the energy sector, agriculture, and the airport sector.
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