The General Confederation of Moroccan Enterprises (CGEM) and the Federation of Chambers of Commerce and Industry (FCCI) of the United Arab Emirates signed in Rabat a memorandum of understanding (MoU) for the reactivation of Morocco- United Arab Emirates.
This MoU was initiated by the president of CGEM, Chakib Alj, and the secretary general of the FCCI, Humaid Mohamed Ben Salem, in the presence of the Emirati Minister of Economy, Abdullah Bin Touq Al Marri and economic operators from both countries, when the sideline of a Business talk organized by the Confederation in collaboration with “Investopia”.
This business council, led on the Moroccan side by Abdelmajid Iraqui Houssaini, Chairman of the Management Board of Taqa Morocco, forms a joint platform of support and assistance for Moroccan and Emirati companies for the realization of innovative high -impact investments and value -added generators and jobs.
Speaking on this occasion, Abdullah Bin Touq Al Marri stressed that his country, based on the wise 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. capable of leading to radical changes of its current economic model so that it is more flexible, sustainable and more in line with future development trends.
These efforts pave the way for more business incentives and facilities and for expanding trade and investment cooperation in various global markets, the Emirati minister said, emphasizing the importance of Business Talk organized to discuss investment opportunities in new sectors of the economy.
This initiative will also enable the Emirati and Moroccan business communities to benefit from these opportunities, to build partnerships in favor of the development of the two countries and to strengthen existing bilateral relations. and take them to a more advanced level.
For his part, Mr. Alj recalled that Morocco and the United Arab Emirates have always maintained a relationship of friendship and respect, proving that economic cooperation between the two countries has been fruitful.
In this regard, he referred to the free trade agreement that ended since 2001, adding that the United Arab Emirates is also the first Arab country to invest in the Kingdom with more than 30 Emirati companies operating in various sectors and 20 billion dollars of investments made to date.
However, and given the great compatibility and similarity between the economies of the two countries, the CGEM president considers that “we can go beyond these achievements by developing innovative, high-impact and sustainable partnerships and this, in many sectors, particularly in industry, renewable energies, new technologies and logistics “.
Mr. Alj also noted that all the elements 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 changed. .
“We are ready to join forces and cooperate immediately with our Emirati counterparts, where we have the same business mindset and build a relationship of trust and solidarity, with the aim of generating more jobs, more growth and prosperity in our respective regions, ”Alj said.
For his part, the FCCI secretary general stressed the need to open new horizons for business leaders to establish long-term investment partnerships, whether in the United Arab Emirates or in Morocco, regarding the competitive advantage enjoyed. of the two countries, to improve bilateral relations.
Mr. Ben Salem also indicated that the signing of the MoU to reactivate the Business Council is a new step towards strengthening cooperation between the two countries and the organization of various events in the United Arab Emirates or Morocco aimed at developing the economic relations between the two countries and the improvement of communication channels between business leaders and to provide facilitation.
Investopia is an initiative launched by the UAE government in 2021 as one of the key strategic projects in the “50 Projects”. It is a global platform designed to spur investment, generate growth, accelerate change and contribute to the prosperity of future generations.