Morocco, UAE to boost bilateral cooperation
Morocco-United Arab Emirates, Economics, 3/14/2001

Morocco and the United Arab Emirates (UAE) are determined to energize their bilateral cooperation and will sign to this end an accord on trade exchanges next April.

The two states also agreed to entrust the chairmanship of the Morocco-UAE joint commission to their Prime Ministers to enhance the management level of the distinguished relations existing between the two countries.

The decision was made at a meeting in Rabat Tuesday between Sheikh Sultan Bin Khalifa Al-Nahyan, head of the office of heir apparent of Abu Dhabi and honorary chairman of the Abu Dhabi chamber of commerce and industry, and Moroccan Premier Abderrahmane Youssoufi.

Youssoufi told reporters the meeting marked a turning point in the consolidation of bilateral relations and that the two sides are resolved to grant the private sector the importance it deserves so that it fulfils its fundamental role in promoting bilateral relations.

Sheikh Sultan, who is currently on an official visit to Morocco at the head of a UAE delegation of officials and economic operators, described the meeting as "fruitful" and said it examined the agreement on trade exchanges to be signed next April as well as investment issues of concern to both the public and private sectors.

During the meeting, Youssoufi lauded the UAE backing to Morocco's development programs, mainly through the Abu Dhabi development fund, and hailed the outcome of discussions on the setting up of a free trade area between the two countries.

The Abu Dhabi chamber of commerce and industry, the Moroccan employers' union (CGEM), the Casablanca chamber of commerce, industry and services and the Casablanca stock exchange held a meeting in Casablanca to explore means of promoting economic cooperation and investments.

The Moroccan side expressed hope that UAE investors will increase their contribution to foreign investments in Morocco that amounted in 2000 to $ 3 billion (about 30 billion DH) and listed the promising sectors that are likely to interest UAE operators, such as new information technologies, tourism, building and public works.

Morocco and the UAE are bound by about 15 agreements and conventions covering the sectors of industry, agriculture, trade, telecommunications, labor, air transport and postal services.

The UAE delegation includes minister of economy and trade, Sheikh Fahem Ben Soltane El Kacimi, Director of the civil aviation department, Sheikh Ahmed Ben Sayef Al-Nahyane, Chairman of the administrative board of the Abu Dhabi chamber of commerce and industry, Said Ben Jaber As-Souaidi, members of the chambers and several businessmen.

Previous Stories:
  UAE business delegation in Morocco   (3/12/2001)
  A free trade zone between UAE, Morocco   (3/7/2001)
  Heir apparent of Dubai dedicates Moroccan pavilion at Dubai shopping festival   (3/5/2001)
  Morocco and UAE group sign tourism investment convention   (2/10/2001)

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