The UAE Minister of State for Financial Affairs, H.E. Mohamed Bin Hadi Al Hussaini, and Morocco’s Minister of Economy and Finance, Nadia Fettah Alaoui, held talks during the Joint Annual Meeting of Arab Financial Institutions on April 29 in Rabat, Morocco. The focus of the meeting was to explore opportunities to enhance financial and economic cooperation between the UAE and Morocco.
Khaled Mohammed Balama, the Governor of the Central Bank of the UAE (CBUAE), and Mohammed Saif Al Suwaidi, the Director General of Abu Dhabi Fund for Development (ADFD), along with several high-ranking officials from both sides, also attended the meeting with Nadia Fettah Alaoui, Morocco’s Minister of Economy and Finance. During the meeting, Al Hussaini emphasized the UAE’s commitment to enhancing bilateral ties with Morocco across all key sectors.
The minister said: “This meeting is a continuation of both parties’ efforts to enhance cooperation and partnership in various sectors of common interest and support sustainable economic growth, in order to serve the future aspirations and visions of both countries.”
The UAE is currently the second largest investor in the world and the largest Arab investor in Morocco, having invested over AED 50B by the end of 2021. Additionally, the UAE is the second largest Arab trading partner for Morocco in 2021, with non-oil foreign trade between both countries reaching AED 3.6B during that year, according to WAM.
During the first meeting of the Morocco-UAE Joint Economic Commission, held in Rabat, both governments agreed to double the volume of trade and investment exchange over the next seven years. They also pledged to enhance cooperation in priority sectors on the economic agendas of both countries.
