The Comprehensive Economic Partnership Agreement (CEPA) between the United Arab Emirates and the Kingdom of Morocco has been finalised, ushering in a new era of mutually beneficial trade and investment relations between the two nations.
Dr. Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Ryad Mezzour, Minister of Industry and Trade of the Kingdom of Morocco, signed a joint statement confirming the conclusion of the negotiations.
The UAE-Morocco CEPA will improve market access for services, bolster customs harmonisation, reduce or eliminate tariffs, remove needless trade barriers, and establish flexible rules of origin for goods. Once in effect, it will contribute to the unhindered flow of goods and services.
Additionally, it will create venues for private sector cooperation and investment in high-priority areas like ICT, renewable energy, tourism, infrastructure, mining, and food security.
Trade in non-oil goods between the two countries reached $1.3 billion in 2023, up 30% from 2022 and 83% above 2019. With over $15 billion invested in various strategic projects, the United Arab Emirates is the most significant Arab investor in Morocco.
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