2023-04-30 10:56:25
His Excellency Abdullah bin Touq Al Marri, Minister of Economy, affirmed that the UAE, thanks to the directives and vision of the wise leadership, is keen to strengthen economic and trade relations with the sister Kingdom of Morocco, in a way that enhances the building of new investment and trade partnerships that serve common interests in vital sectors of common interest and consolidate the strength of Bilateral relations between the two countries.
This came during his meetings with a number of ministers and senior officials in the Moroccan government, which were held on the sidelines of the first session of the joint economic committee between the two countries in the Moroccan capital, Rabat, in the presence of a number of government officials, businessmen and private sector representatives from both countries.
His Excellency added: “The two countries have promising opportunities for investment and an important geographical location through which they can access key and strategic markets in Africa and Asia. In increasing trade and investment exchanges between the two countries during the next stage, and enhancing the sustainable growth of their economies.
His Excellency Ibn Touq held a bilateral meeting with Nadia Fattah Al-Alawi, Minister of Economy and Finance in the Government of Morocco, to discuss enhancing the benefit from the investment and trade agreements signed between the two countries, especially the “Protection and Promotion of Investments” and “Double Taxation” agreements, in a way that supports increasing investments and providing more incentives. For Emirati and Moroccan companies.
The two sides discussed the importance of intensifying mutual investments in the sectors of the new economy, especially technology, cyber security, artificial intelligence and renewable energy, in a way that supports the vision of the two countries in shifting towards new economic sectors.
His Excellency also held a bilateral meeting with Mohamed Siddiqui, Minister of Agriculture, Maritime Fishing, Rural Development, Water and Forests in the Government of Morocco, to discuss mechanisms for enhancing agricultural cooperation between the two countries by launching a new program to support agricultural investments, and stimulating joint cooperation in the fields of fertilizers, technological agriculture, research and development, in a way that guarantees The flow of goods and products in the markets of the two countries.
The two sides discussed supporting joint cooperation in the Halal industry through insurance and financing solutions that are compatible with Islamic Sharia.
During the meeting, the two sides discussed providing more opportunities and enablers to support the promotion of investments and expansions of Emirati companies operating in agricultural commodities and products in the Moroccan markets, most notably “Al Dahra Holding”, which supports the increase in investments of Emirati projects in the agricultural fields in Morocco.
In the same context, His Excellency Ibn Touq met with Mohsen Al-Jazouli, Minister Delegate to the Prime Minister in charge of investment, resilience and evaluation of public policies, to strengthen investment cooperation frameworks between the two countries during the next stage in areas of common interest, in a way that supports the growth of mutual investments between the Emirati and Moroccan sides.
His Excellency Ibn Touq reviewed the advantages and capabilities granted by the UAE to investors and businessmen from all over the world, including allowing 100% free foreign ownership in all economic and industrial sectors, following making amendments to the Commercial Companies Law, providing an investment climate that stimulates business and investment, and modernizing the system. The legislative framework of the state through the issuance of new legislation, most notably the law on commercial transactions, trademarks, and family companies, in addition to developing the national economic register.
His Excellency Bin Touq stressed that the UAE was keen to provide all means of support to investors and businessmen while carrying out their commercial business in the country, as well as services related to residency, visas and issuance of licenses for economic activities, which contributed to the consolidation of the UAE’s position as a leading global destination for investment and trade.
His Excellency Ibn Touq also held a bilateral meeting with Mohamed Abdel Jalil, the Moroccan Minister of Transport and Logistics, to discuss investment opportunities and joint cooperation in the fields of maritime, air and land transport, and to benefit from the bilateral agreements signed between the two countries in this regard, especially as air traffic between the UAE and Morocco is growing. Continuing, as the number of flights reached nearly 60 flights per month via the national carriers of the two countries, and the two sides discussed mechanisms to support increasing mutual investments in the infrastructure of seaports and marine technology, in addition to enhancing cooperation in electronic systems for the supply chain between the two countries.
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