UAE businessmen willing to set up joint ventures with Moroccan peers

Businessmen from the United Arab Emirates have voiced willingness to set up joint ventures with Moroccan peers and to contribute to enhancing cooperation between the two states.

This came at a meeting in Dubai between a delegation from the chamber of commerce, industry and services of Marrakesh and executives of the Chamber of commerce and industry of Dubai.

First vice-chairman of the Dubai chamber, Abderrahmane Al-Matiou, told his Moroccan interlocutors-operating in the sectors of electronics, handicraft, construction and export-import-- cooperation opportunities do exist between the two states mainly in the economic, commercial and investment sectors.

Dubai, which has a strategic location, is a major import, re-export center in the Gulf region and in the Middle East and Morocco harbors huge natural resources in addition to a developed agricultural and agri-business sector and tourism potentials, Matiou said.

He called Moroccan businessmen to probe the possibility to set up centers in the free trade area of Jabal Ali, which can be a very interesting outlet for Moroccan products in the UAE, the gulf countries, the Middle East, Asia and Eastern Africa. These markets, he said, have a 1.5 billion strong population.

The Dubai chamber executive also called for the consolidation of air and sea traffic between the two states to promote trade exchanges.

In 1998, Morocco's imports from the UAE were worth 153 million DH ($13.9 million) while exports amounted to 127 million DH ($11.54 million).