UAE-Morocco trade set to expand
Dubai, October 27, 2011
Dubai Exports, and the Moroccan Centre for Export Promotion (Maroc Export), have signed an MoU, reinforcing the existing relations and strengthening the trade and investment linkages between the UAE and Morocco.
The memorandum signed by Dubai Exports, an agency of the Department of Economic Development (DED), and the public organisation in charge of the promotion and development of Moroccan exports, aims to enhance bilateral trade and explore new exports opportunities for companies in the two countries.
It was signed by Mohammed Ali Al Kamali, director of export markets development at Dubai Exports, and Saad Eddine Benabdallah, managing director of Maroc Export in the presence of Abdelatif Mazouz, Minister of Foreign Trade of Morocco, a statement from the company said.
Economic and trade relations between the two countries have seen significant development since 2008, with major UAE exports to Morocco including petrochemicals, metals, foodstuff, transport equipment, tools and appliances. Investment in Morocco offers huge opportunities to the UAE such as access to European markets, skilled low-cost labour force, and stable macro economy.
The strategic partnership between the two export companies will promote bilateral trade as well as develop future cooperation towards utilising Dubai and Morocco as gateways to Europe, Africa and the Middle East. Dubai Exports aims that through this partnership, UAE and Moroccan companies can increase their exports in various key sectors, the statement said.
Dubai’s direct exports to Morocco have grown at 19 percent for the period of 2009 to 2010 and are expected to increase to more than 30 percent towards the end of the year based on the first half of 2011. Dubai’s total direct export to Morocco amounted to Dh448 million ($122 million) in 2010, while the total Free Zone exports were valued at Dh273.66 million ($74.52 million), according to Dubai Exports.
Among last year’s top products of Dubai’s Direct Export to Morocco were oil and fats, preparations of meat, cereal preparations, plastics, printed books, ceramics, and aluminium & articles. Export of plastics was valued at Dh130.75 million ($35.60) while aluminium & articles amounted to Dh60.84 million ($16.57).
The signing was part of a series of activities organised by Maroc Export in relation to a business exploration trip to Qatar, Kuwait and the UAE. Headed by Mazouz and Maroc Export, the business mission also comprised 35 Moroccan businessmen from different sectors such as pharmaceuticals, food-processing, textile & leather, ICT, and finance industries, it said.
Maroc Export, together with Dubai Exports, has arranged several business meetings between the UAE and Moroccan companies. There were also site visits to some of the companies as part of the business mission. – TradeArabia News Service