The presence of King Mohammed VI in Abu Dhabi boosts economic ties between Morocco and the UAE

The visit of the King of Morocco, Mohammed VI, to Abu Dhabi to meet with the President of the United Arab Emirates, Mohammed bin Zayed al-Nahyan, served to strengthen the political and economic ties between the two Arab nations.  

The two heads of state presided over the initialling of several memorandums of understanding that will serve to expand trade and mutual investment between the two countries, thus boosting the link between the North African country and the Emirate. 

The agreements signed strengthen partnership and economic cooperation. All of this is part of the Declaration "Towards an innovative, renewed and consolidated partnership between the Kingdom of Morocco and the State of the United Arab Emirates" signed by the two leaders.  

The declaration aims to raise bilateral relations and cooperation to broader horizons, through effective economic partnerships that serve common higher interests and bring development and welfare to both countries. 

The two heads of state stressed the ambition of the two countries to establish pioneering joint strategic economic partnerships in regional and international markets, especially with the African space

The aim is to activate practical and concrete cooperation through structured projects that meet the interests of both parties, especially in the socio-economic sectors, infrastructure, transport, drinking water, development of the agricultural sector, energy, tourism, real estate projects, and in the areas of training and employment. 

A clear objective is investment in infrastructure, through the extension of railway lines, including the Kenitra-Marrakech high-speed train. Analysing the official communiqué on the meeting between the two leaders, Emirati financial institutions, including the world's largest sovereign wealth funds, are expected to participate in the financing of the Kenitra-Marrakech high-speed rail line. Financing modalities include soft loans at competitive rates, structured finance and 'gifts', possibly Emirati donations. 

An investment partnership will also be established for high-speed rail projects in the Kingdom of Morocco, following an agreement signed by Suhail Mohammed El Mazrouei, Morocco's Minister of Energy and Infrastructure, and Mohammed Rabie El Khalea, head of Morocco's National Railway Office. 

Another MoU was reached on the establishment of an investment partnership in the water sector and another on the establishment of a development partnership, sealed by Mohammed Hassan al-Suwaidi, UAE Minister of Investment, and Fouzi Lekjaa, Minister Delegate to the Minister of Economy and Finance in charge of Morocco's budget.  

Another MoU was between the Abu Dhabi National Oil Company and the OCP Group linked to Morocco's state-owned fertiliser industry, and was exchanged by Al-Suwaidi himself and OCP Group CEO Mustafa Turab. While a memorandum of investment partnership on projects of interest to the energy sector was also established, initialled by the UAE Minister of Investment and Leila Benali, Morocco's Minister of Energy Transition and Sustainable Development. 

The two parties also agreed to discuss the development of joint projects in the fields of tourism and real estate, especially on the Mediterranean coast and in the regions of Dakhla and Tarfaya, as well as to study the finalisation and financing of projects in the field of communications and the digital economy, with other projects with an economic dimension and cooperation in the framework of a public-private partnership. Dakhla, in particular, will receive a major boost thanks to the agreements signed. This is a very important enclave around Western Sahara, the region over which Morocco is proposing a formula of broad autonomy under Moroccan sovereignty in order to settle the Saharawi dispute and to develop the area as much as possible.  

Another memorandum signed provides for the establishment of investment cooperation in the port sector, sealed by the Moroccan Minister of Equipment and Water, Nizar Baraka, and another establishes an investment partnership linked to the Morocco-Nigeria gas pipeline project. 

The MoUs signed by the Moroccan and Emirati administrative representatives will serve to significantly boost cooperation between Morocco and the Emirates by deepening the bilateral relationship, under the directives of the respective heads of state, King Mohammed VI and Sheikh Mohammed bin Zayed al-Nahyan