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7/29/24, 3:18 PM UAE, Morocco finalise CEPA terms - City 1016

UAE, MOROCCO FINALISE CEPA TERMS

News Home More from Business News Sunday, 28 July 2024 10:31

By ARN News Staff

WAM
The United Arab Emirates and Morocco have finalised the terms of a Comprehensive Economic Partnership
Agreement (CEPA) that will launch a new chapter of mutually beneficial trade and investment ties between

the two countries.

The conclusion of negotiations was confirmed by the signing of a joint statement by Dr Thani bin Ahmed Al Zeyoudi,
Minister of State for Foreign Trade, and Ryad Mezzour, Minister of Industry and Trade of the Kingdom of Morocco.

The UAE-Morocco CEPA will facilitate the free flow of goods and services by reducing or removing tariffs, eliminating
unnecessary barriers to trade, improving market access for services, enhancing customs harmonisation and
establishing flexible rules of origin for goods.

It will also establish platforms for investment and private-sector collaboration in priority sectors such as renewable
energy, tourism, infrastructure, mining, food security, transport, and logistics.

The two nations shared $1.3 billion in non-oil trade in 2023, an increase of 30 per cent on 2022 and 83 per cent more
than was recorded in 2019. The UAE is the largest Arab investor in Morocco with more than $15 billion invested in a

variety of strategic projects.

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