Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs, in recent times, had a meeting with Nadia Fettah Alaoui, Morocco’s Minister of Economy and Finance, on the sidelines of the Joint Annual Meeting of Arab Financial Institutions held on April 29th in Rabat, Morocco.
The purpose of the meeting was to explore ways of strengthening financial and economic cooperation between the UAE and Morocco. Attendees included Al Hussaini, Khaled Mohammed Balama, Governor of the Central Bank of the UAE (CBUAE), Mohammed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development (ADFD), and several senior officials from both countries.
Al Hussaini reiterated the UAE’s commitment to strengthening bilateral relations with the Kingdom of Morocco across all vital and priority sectors. The UAE is currently the largest Arab investor in Morocco and the second largest in the world, with investments of over AED50 billion by the end of 2021. In 2022, the UAE was also the second largest Arab trading partner for Morocco, with non-oil foreign trade between the two countries amounting to AED3.6 billion.
At the first session of the Morocco-UAE Joint Economic Commission held in Rabat, the UAE and Moroccan governments agreed to double the volume of trade and investment exchange over the next seven years, as well as to enhance cooperation in priority sectors on the economic agenda of both countries.
