- Al-Zeyoudi: achieving interests, well-being and prosperity between two relatives
- Forged: an exemplary framework for establishing strong foundations for raising the level of cooperation
The UAE and the Kingdom of Morocco successfully concluded the talks aimed at obtaining a comprehensive economic cooperation agreement between the two brother countries.
The final touches have been given to the terms of this historic agreement, which inaugurates a new era of joint economic growth within the process of fraternal relations between the two countries.
Dr. Thani bin Ahmed Al-Zeyoudi, Minister of State for Foreign Trade, and Riad Mazour, Minister of Industry and Trade of Morocco, signed a joint statement announcing the successful conclusion of the talks and the final terms of the agreement.
Dr. Al-Zeyoudi welcomed the conclusion of the talks and said: “The agreement is an important addition to the program of global economic agreements that the country continues to implement, with the aim of expanding the network of trade and investment partners in the world, promising cooperation with markets of strategic importance in the region and internationally on the map of international trade. The agreement aims to achieve mutual interests, especially in tourism, energy, manufacturing and agriculture, and to achieve long-term prosperity for the two brotherly countries.
Riad Mazur said: “In the framework of the implementation of the content of the declaration signed by the leaders of the two countries on December 4, 2023 in Abu Dhabi, to establish an innovative, renewed and strong partnership, I signed today with brother Thani. Al-Zeyoudi, ministers of the two countries on the conclusion of negotiations on the Comprehensive Economic Cooperation Agreement joint statement. This agreement goes beyond the liberalization of trade exchanges to include various areas related to investments and economic cooperation, which makes this agreement a model for establishing a solid foundation for raising the level of economic cooperation and investment cooperation.
The agreement – later officially signed, then ratified and then entered into force – aims to stimulate the free circulation of goods and services between the two brother countries, removing unnecessary barriers to trade, creating flexible rules of origin for goods. , improving access to services markets and improving customs coordination.
It is also developing new platforms to stimulate the flow of mutual investments and build partnerships between the private sector and business communities on both sides, focusing on priority sectors such as renewable energy, tourism, infrastructure, mining, food security, transport and logistics. , information and communication technologies, and others.
Non-oil foreign trade between the US and Morocco is experiencing a significant increase, reaching $1.3 billion in 2023, a 30% increase compared to 2022 and an increase of more than 83% before the global pandemic, specifically in 2019. (WAM)
