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7/29/24, 3:16 PM UAE and Morocco finalise Cepa terms to boost trade and investment ties | The National

The two countries shared $1.3 billion in non-oil trade last year, an increase of 30 per cent

from 2022. The UAE is the largest Arab investor in Morocco with more than $15 billion

invested in a broad range of strategic projects.

“The agreement, which strengthens the legal arsenal between the two countries, aims to

support the development of trade and investment, by opening new opportunities to

upgrade the level of joint co-operation in economic and commercial fields,” said Ryad

Mezzour, Morocco's Minister of Industry and Trade.

Gross domestic product of Morocco, the sixth largest economy on the African continent, is

projected to grow by 3.5 per cent this year, after expanding 3.1 per cent last year,

according to the International Monetary Fund.

While agriculture remains the largest employer, the services sector is the largest

contributor to GDP, accounting for 54 per cent, with the industrial sector contributing 23

per cent.

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