ABU DHABI: Cooperation and efforts to increase joint investments and trade by the UAE and Morocco on Monday were discussed by senior officials of the Abu Dhabi Chamber of Commerce and Industry (ADCCI) and visiting officials of the Moroccan Centre for Export Promotion (Maroc Export).
The talks were held by Undersecretary of the Department of Economic Development Mohammed Omar Abdullah, 1st Vice-President of the ADCCI Khalfan Saeed Al-Kaabi and Executive Director of "Maroc Export" Saad Eldin Bin Abdullah. In a speech at the meeting, Al Kaabi said that the UAE is the top Arab investor in Morocco. He also noted that the volume of trade exchange between the two countries grew significantly over the past few years to US$400 million by the end of 2010. "UAE took the lead as the first Arab country to invest in Morocco's tourism, property, energy and industrial sectors.... UAE investments in Morocco focus on sustainable development in order to serve Morocco's human development plans," he added. Citing estimates by Morocco's economic bodies, Al-Kaabi said UAE investments in Morocco reached US$4.8 billion in sectors such as tourism, property and energy sectors. He urged Moroccan businesses to tap investment opportunities on the offer in the emirate. Saad Eldin Bin Abdullah is leading the Moroccan trade delegation of representatives of 31 companies operating in IT, food Industries, seafood, textile, leather, pharmaceutical industries, services and banking. He said Moroccan companies are interested in tapping the UAE's markets and seek to promote their products and services through partnerships with emirati companies.Copyright Emirates News Agency (WAM) 2011.
