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Join on Telegram Marrakech – According to Hassan Berkani, President of the Casablanca-Settat Chamber of Commerce, Industry and Services, the United Arab Emirates (UAE) has solidified its position as the largest Arab investor in Morocco and the second largest globally.
Speaking to the Emirates News Agency (WAM) during the second stop of the trade mission organized by the Dubai International Chamber to Senegal and Morocco, Berkani expressed optimism about the potential for investment volumes to double in the coming years.
Statistics from the Moroccan Exchange Office reveal that UAE exports to Morocco reached approximately $1.32 billion in 2023, while Moroccan exports to the UAE amounted to nearly $202 million in the same year.
The growing trade relationship between the two countries has been further strengthened by the recent signing of a partnership agreement between the Casablanca-Settat Chamber and the Dubai International Chamber to boost institutional cooperation and pave the way for increased trade and investment exchanges.
Dubai’s investments in Morocco have experienced remarkable growth, reaching $2.1 billion between 2012 and 2023, positively impacting bilateral trade. Around 850 Moroccan companies were part of the Dubai Chamber as of the first quarter of 2024. Official figures indicate that 99 new members joined the chamber in the first three months of the year, representing a 12% annual increase.
The UAE-Morocco Business Forum, organized in collaboration with various chambers of commerce and industry in Casablanca and Rabat, witnessed a significant turnout of Emirati and Moroccan companies, showcasing the investment and trade opportunities available in the Moroccan market.
The growth in Dubai’s investments in Morocco since 2012 is a testament to the efforts aimed at enhancing trade and investment ties, fostering productive partnerships, and creating growth opportunities across various sectors in both countries.
Read also: Morocco, UAE Sign Joint Declaration to Boost ‘Renewed, Deep-Rooted’ Ties
The volume of non-oil trade between Dubai and Morocco has also experienced a robust growth rate of about 37.5% over the past five years, driven by the shared aspirations of businesses in both regions to secure larger trade and investment agreements in the coming years.
With Morocco being among the top Arab destinations for Emirati investments, the two nations have signed a joint declaration outlining plans to elevate economic, commercial, investment, and industrial cooperation.
