Emirates is the main Arab investor in Morocco
The United Arab Emirates (UAE) is the main Arab investor in Morocco and the second at the global level, the Casablanca-Settat Chamber of Commerce, Industry and Services has officially confirmed.
Emirati investment in Morocco has reached 30 billion dollars, which places the Gulf country as the first Arab investor in the North African nation, as confirmed by Hassan Berkani, president of the Chamber of Commerce, Industry and Services of Casablanca-Settat.
Speaking to the official Emirati news agency WAM, which was also echoed by media such as Morocco World News, during the trade mission organised by the Dubai International Chamber in Senegal and Morocco, Hassan Berkani said that the investment volume could double in the coming years.
According to the Moroccan Bureau de Change, UAE exports to Morocco reached approximately 1.32 billion dollars in 2023, while Moroccan exports to the UAE amounted to almost 202 million dollars in the same year.
Within this exceptional dynamic in the economic and commercial relationship between the two Arab countries, there are beneficial moves for both nations, such as the signing of the partnership agreement between the Casablanca-Settat Chamber of Commerce, Industry and Services and the Dubai International Chamber of Commerce to enhance collaboration and promote trade and investment.
The Emirate of Dubai's investments in Morocco have experienced significant growth, reaching 2.1 billion dollars between 2012 and 2023, which has had a positive impact on bilateral trade. Around 850 Moroccan companies were part of the Dubai Chamber in the first quarter of 2024. As many as 99 new members joined the Chamber in the first three months of the year, representing a year-on-year increase of 12%.
In addition, the UAE-Morocco Business Forum, organised in collaboration with several Chambers of Commerce and Industry in Casablanca and Rabat, was well attended by Emirati and Moroccan companies, who discussed the importance of the Moroccan market for investment.
The growth of Dubai's investments in Morocco since 2012 is evidence of the trade and investment effort, the promotion of productive partnerships and the generation of growth opportunities in various sectors in both countries.
It is worth noting that the volume of non-oil trade between Dubai and Morocco has also experienced a solid growth rate of around 37.5% over the past five years, which is a good indication of the excellent dynamics of trade and economic relations between the Moroccan kingdom and the Emirati country.
A strong relationship
The trade and economic dynamics between Morocco and the UAE are solid.
According to Jamal Saif Al Jarwan, Secretary General of the Emirates Council of International Investors, Rabat has already managed to attract a total of 30 billion dollars through the close economic ties between the two nations.
Al Jarwan noted that Emirati investments abroad, both public and private, reached around 2.5 trillion dollars by the beginning of 2024, consolidating the Arab country as a leading global investor.
The largest share of Emirati investment goes to the United States, followed by Egypt, the United Kingdom and India. Close behind is Morocco, which has received $30 billion in Emirati investment (compared to 40 billion for India, for example).
Key areas of investment include infrastructure projects such as high-speed rail, airport and port development, as well as sustainable sectors such as green hydrogen production, food security cooperation with Morocco's leading phosphate producer OCP Group, tourism, real estate and reconstruction following the devastating Al Haouz earthquake.
