The Kingdom of Morocco is an important economic partner for the UAE, and UAE-Morocco economic relations have witnessed significant development in recent years, as the UAE ranks first in terms of Arab investments in the Kingdom of Morocco, and third in terms of total foreign direct investments, thanks to the large influx of UAE investments, whether governmental or private, in various economic sectors.
The Kingdom of Morocco is considered a gateway for Emirati investors to cross into European and African markets due to Morocco's strategic location and proximity to Europe.
The trade and free trade agreements signed between the Kingdom of Morocco and the European Union, the United States of America and Turkey, provide great opportunities for Emirati companies investing in Morocco to benefit from these agreements.
In continuation of the bilateral cooperation between the two countries on the economic and commercial level, on June 9, 2022, a memorandum of understanding was signed to reactivate the Moroccan-UAE Business Council by the Secretary General of the Federation of Chambers of Commerce and Industry of the United Arab Emirates and the President of the General Federation of Moroccan Companies in Rabat, in the presence of H.E. Abdullah bin Touq Al Marri, UAE Minister of Economy, and a number of economic actors in the two countries. The UAE-Morocco Business Council is a joint platform to support and accompany UAE and Moroccan companies to make innovative, high-impact, value-added and job-creating investments on both sides.
In the same context, the ministerial meeting of the Moroccan-UAE Joint Economic Committee was held on Thursday, April 27, 2023 in Rabat, under the chairmanship of HE Abdullah bin Touq Al Marri, Minister of Economy of the UAE, and HE Nadia Fattah, Minister of Economy and Finance of the Kingdom of Morocco, with the participation of senior officials from the two ministries and some public institutions and the private sector from the two countries. A memorandum of understanding on economic and technical cooperation was also signed, which aims to establish a cooperative framework between the two parties that contributes to developing, strengthening and diversifying the fields of economic and technical cooperation between the two countries through the establishment of a joint UAE-Moroccan economic committee.
These relations were further strengthened by the visit of His Majesty King Mohammed VI to the UAE on December 4, 2023, where he met with His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the UAE, where a declaration towards an innovative and solid partnership was signed between the two heads of state, with the aim of developing various fields of economic, commercial and investment cooperation, and 12 memorandums of understanding were signed between the two countries on a number of strategic sectors.
On the trade side, the volume of trade exchange between the UAE and the Kingdom of Morocco increased from $1.003 billion in 2022 to $1.300 billion in 2023, registering an increase of about 30%.
