CGEM and its Emirati counterpart have reactivated the Morocco-United Arab Emirates Business Council

Chakib Alj, President of CGEM and Humaid Mohamed Ben Salem, Secretary General of the Federation of Chambers of Commerce and Industry of the United Arab Emirates (UAE), proceeded, Thursday, June 9, 2022, in Rabat, with the signing of a memorandum of understanding for on the reactivation of the Morocco-UAE Business Council.

Combined platform of support and inclusion of Moroccan and Emirati companies for the realization of innovative investments, with strong impact and generators of additional value and employment, this business council will be led, on the Moroccan side, by Abdelmajid Iraqui Houssaini, chairman of the board of directors of Taqa Morocco, indicates a press release from CGEM.

The signing of this memorandum of understanding (MoU) was held on the sideline of a Business Talk in the presence of Abdullah bin Touq Al Marri, Emirati Minister of Economy, and organized by CGEM in collaboration with Investopia. On this occasion, the Minister stressed that “his country, based on the insightful vision of his leadership and to achieve the goals set for the next 50 years, has launched an integrated and unprecedented set of initiatives, programs and policies that are capable of leading the radical changes of its current economic model so that it is more flexible, sustainable and more in line with future development trends.These efforts are paving the way for more business incentives and facilities and for expanding trade and investment partnerships in various global markets. “

Abdullah bin Touq Al Marri also stressed “the importance of this Business Talk to discuss investment opportunities in new sectors of the economy and ways to enable the Emirati and Moroccan business communities to benefit from the this opportunity, to develop cooperation for the development of the two countries, to strengthen existing bilateral relations and take them to a more advanced level. “

For his part, the president of CGEM recalled “that Morocco and the United Arab Emirates have always maintained relations of friendship and respect, whose foundations were laid by the late His Majesty King Hassan II and Sheikh Zayed Ben Sultan Al Nehyane, links continue to grow.

“It is true that the economic cooperation between our two countries has been fruitful since we have had a free trade agreement since 2001. The UAE is also the first Arab country to invest in the Kingdom with more than 35 Emirati companies operating. in various sectors and $ 20 billion in investments made to date. However, and because of the great compatibility and similarity between our two economies, I believe we can surpass these achievements by developing innovative, high -impact and sustainable partnerships in many sectors, including industry, agriculture, renewable energy, new technologies, logistics, etc., ”he said.

According to Chakib Alj, “all the ingredients are there to make the economic cooperation between the Moroccan and Emirati business communities a real model of regional cooperation and confirm the economic leadership of the two countries, in a world that reshaped “. “We are ready to join forces and cooperate immediately with our Emirati counterparts where we have the same mindset and build a relationship of trust and solidarity, with the aim of generating more jobs, more growth and prosperity. in our respective regions ”, he said. graduated.

For his part, Humaid Mohamed Ben Salem stressed “the need to open new horizons for business leaders to establish long-term investment partnerships, whether within the Emirates or in Morocco, because of the advantages of the competitive advantages enjoyed by the two countries, to improve bilateral relations. “

He also stated that “the signing of this MoU is a new step in favor of strengthening cooperation between the two countries and in organizing various events in the United Arab Emirates or Morocco aimed at the development of bilateral economic relations, improve communication channels between business leaders and provide facilitation The memorandum also plans to encourage and expedite the exchange of experiences and information on opportunities for the development of trade exchanges and the establishment of investment projects in industry and services ”.

The Ambassador of the United Arab Emirates to Morocco, El Asri Said Ahmad Al Dhahiri, for his part, welcomed the signing of the MoU for the reactivation of the business council which, according to him, “will form the starting point for resumption. of cooperation.between entrepreneurs and private companies of the two countries, especially since our two countries are linked through an independent trade agreement that offers great opportunities that remain untapped, knowing that the economies of the Emirati and Moroccan are characterized by great integration and cooperation that must be taken advantage of ”.

Note that Investopia is an initiative launched by the United Arab Emirates government in 2021 as one of the key strategic projects in the “50 Projects”. It is a global platform designed to stimulate investment, generate growth, accelerate change and contribute to the prosperity of next generations, concludes the press release from CGEM.

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