The Abu Dhabi Chamber of Commerce and Industry’s delegation, headed by Ebraheem Al Mahmood, First Vice Chairman of Abu Dhabi Chamber, met with Hafid El Alamy, Minister of Industry, Investment, Trade and Digital Economy, in Morocco, to discuss the scope of cooperation between the two countries.

The two sides discussed means to strengthen joint investments between people in business and investors in the UAE, in general, and Abu Dhabi, in particular, along with their counterparts in Morocco.

Al Mahmood stressed that the chamber delegation visit to the Moroccan Kingdom aimed to consolidate the economic and trading relations between the two brotherly countries and increase the fields of cooperation between the UAE and Moroccan investors.

In a statement to Emirates News Agency, WAM, the Moroccan Minister of Industry, Trade and Investment affirmed that the relations between Morocco and the UAE were on a high level, asserting that His Majesty King Mohammed VI had excellent relations with the UAE leadership. He highlighted that His Majesty’s instructions to officials in Morocco supported the necessity of strengthening the bilateral ties with the UAE in all fields.

He emphasised the existence of significant opportunities to consolidate the investment partnership between the UAE and Morocco, noting that joint projects would be offered to the investors from both countries. He also shed light on the critical strategic location of Morocco on the African continent, which encourages businesspeople from across the world to invest in it.

UAE investments have contributed to developing strategic sectors such as telecommunications, with Etisalat UAE owning a 53 percent stake in Maroc Telecom Company worth 4.2 billion Euros. TAQA Morocco, a subsidiary of Abu Dhabi National Energy Company, PJSC (TAQA) company, contributes by producing over half of Morocco’s needs for electric power.

The UAE is also considered to be the first investor in Casablanca Stock Exchange at US$5.5 billion, besides its investments in tourism, real estate, agriculture, energy and air transport sectors