Page 286 - MOE ENGLISH PR REPORT - JULY 2024

UAE And Morocco Ink Comprehensive Economic

Partnership To Strengthen Trade Ties

By OneArabia
Published: Saturday, July 27, 2024, 21:21 [GST]

The United Arab Emirates and the Kingdom of Morocco have finalised a Comprehensive Economic
Partnership Agreement (CEPA). This agreement marks a significant step in enhancing trade and
investment ties between the two nations. The conclusion of negotiations was confirmed by Dr.
Thani bin Ahmed Al Zeyoudi, UAE's Minister of State for Foreign Trade, and Ryad Mezzour, Morocco's
Minister of Industry and Trade.
Upon implementation, the UAE-Morocco CEPA will facilitate the free flow of goods and services. It
aims to reduce or remove tariffs, eliminate unnecessary trade barriers, improve market access for
services, enhance customs harmonisation, and establish flexible rules of origin for goods. This
agreement will also create platforms for investment and private-sector collaboration in key sectors
such as renewable energy, tourism, infrastructure, mining, food security, transport, logistics, and
ICT.

In 2023, the non-oil trade between the UAE and Morocco reached US$1.3 billion. This represents a
30 percent increase from 2022 and an 83 percent rise compared to 2019. The UAE is the largest
Arab investor in Morocco with investments exceeding US$15 billion in various strategic projects. Dr.

https://www.onearabia.me/business/uae-morocco-economic-partnership-agreement-finalised-
011-56623.html