UAE, Morocco review strengthening financial, economic cooperation

Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs, recently met 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 29 in Rabat.

The meeting sought to discuss ways to strengthen areas of financial and economic cooperation between the countries, state news agency WAM reported.

Both the countries 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.

Al Hussaini reaffirmed the UAE’s keenness to further strengthen bilateral relations with the nation to include all vital and priority sectors.

HE Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, met with HE Nadia Fettah Alaoui, Minister of Economy and Finance, Morocco. They discussed ways to enhance cooperation between the UAE and Morocco.#arabfinancialinstitutions #mofuae pic.twitter.com/EtGe2T5g4O

— وزارة المالية | الإمارات (@MOFUAE) April 30, 2023

The minister said: “This meeting is a continuation of both parties’ efforts to enhance cooperation and partnership in various sectors of common interest and support sustainable economic growth, in order to serve the future aspirations and visions of both countries.”

Mme la Ministre a eu également une rencontre avec M. Mohamed bin Hadi Al Hussaini, Ministre d’état émirati des Affaires Financières. pic.twitter.com/ddZIzxgnMA

— Ministère de l'Economie et des Finances (@financesmaroc) April 30, 2023

Meanwhile, the UAE is the largest Arab investor in Morocco and the second in the world, with investments amounting to more than Dhs50bn by the end of 2021.

The UAE is also the second largest Arab trading partner for Morocco during 2021, as the volume of non-oil foreign trade between both countries amounted to Dhs3.6bn during 2022.

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