Page 292 - MOE ENGLISH PR REPORT - JULY 2024

7/29/24, 3:21 PM UAE, Morocco finalise terms of Comprehensive Economic Partnership Agreement

Morocco is the sixth largest economy on the African continent. In 2023, its GDP was

US$ 152.4 billion and is expected to grow by a further 3.5 percent in 2024. While

agriculture remains the largest employer, the services sector is the largest contributor
to GDP accounting for 54 percent, with the industrial sector contributing 23 percent.

The UAE's CEPA programme aims to increase the country's non-oil foreign trade to

AED4 trillion by expanding relations with strategically important markets around the
world. In 2023, the UAE's non-oil trade in goods reached an all-time high of US$710

billion, a 12.6 percent increase on 2022 - and 34.7 percent more than 2021.

Morocco is the latest African nation to conclude CEPA terms with the UAE, following
Mauritius, Kenya and Congo-Brazzaville. (ANI/WAM)

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