How Morocco-UAE economic agreement could usher in new era of bilateral trade
With its CEPA program, Abu Dhabi is not only expanding its network of trade and investment partners; it is getting closer to achieving its strategic goal of increasing its non-oil foreign trade.
The United Arab Emirates and Morocco finalized last week a Comprehensive Economic Partnership Agreement, starting a new chapter in trade ties between the two. This deal between Abu Dhabi and Rabat is the latest addition to the UAE’S CEPA program.
After negotiations concluded, Thani bin Ahmed Al Zeyoudi, the Emirati minister of state for foreign trade, and Ryad Mezzour, minister of industry and trade for Morocco, signed a joint statement confirming the deal.
Welcoming the partnership, Zeyoudi said that that the two nations already have strong bilateral economic relations and the deal was a valuable addition to the CEPA program. He noted that “Morocco is one of the largest and most competitive economies in Africa, and we look forward to working in unison to create new opportunities for our private sectors.”
Mezzour provided background on the agreement, noting that the deal was “part of the implementation of the declaration signed by His Majesty King Mohammed VI and President His Highness Mohamed bin Zayed Al Nahyan on Dec. 4, 2023, in Abu Dhabi, which aims to establish an innovative, renewed and solid partnership between the two brotherly countries.”
