Friday 19 July 2024
 
»
 
»
Story

Members of the trade mission

Morocco seen as Dubai's gateway to Africa as trade ties deepen

DUBAI, June 10, 2024

The Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, held 300 B2B meetings during a recent trade mission to Morocco, marking a significant leap in Dubai's efforts to broaden its economic horizons and create stronger ties with Africa.
 
The trade mission saw representatives from 18 diverse Dubai companies across various sectors like agriculture, cosmetics, construction, energy, trading, and healthcare participate.
 
As part of the ‘New Horizons’ initiative, the chamber concluded its visit to Senegal and Morocco, signing four memorandums of understanding (MoUs) in the latter and arranging 300 bilateral meetings in Casablanca between companies from Dubai and Morocco.
 
These agreements, inked with the Moroccan Agency for Investment and Export Development, the General Confederation of Moroccan Enterprises (CGEM), the Chamber of Commerce, Industry and and Services of Casablanca-Settat, and the Chamber of Commerce, Industry and Services of Rabat-Salé-Kenitra, are expected to pave the way for more opportunities for cooperation between Dubai-based companies and their Moroccan counterparts to drive expansion in promising sectors.
Promising sectors for exports from Dubai to Morocco include aluminium, copper wire, wheat, dates, mobile devices, electronics, and plastics.
 
Underpinning this mission is Dubai Chambers' goal of strengthening cooperation, promoting bilateral trade and investments, and building constructive partnerships. The organisations will collaborate to arrange trade missions, conferences, and business events, as well as engage in the mutually beneficial sharing of knowledge and expertise to support growth and innovation.
 
The centrepiece of the mission’s activities in Casablanca was a special business forum titled ‘Doing Business with Morocco’, organised by Dubai International Chamber with the support of UAE Embassy in Rabat and four parties that signed MoUs with Dubai Chambers.
 
The event attracted a total of 420 participants, including senior officials, business leaders, and local companies interested in exploring potential partnerships with members of the chamber’s delegation.
Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, highlighted the growing bilateral cooperation between the two markets, stating: “The economy of the Kingdom of Morocco has made significant strides that enhance its attractiveness among private sector companies from Dubai. Our mission creates an impactful platform to strengthen trade and investment relations between the business communities in Dubai and Morocco, build fruitful partnerships that serve our mutual goals and interests, and unlock new opportunities for growth and prosperity.”
 
The strong economic ties between Dubai and Morocco are evident in the trade figures. Non-oil trade between the two markets reached a value of AED3.2 billion ($871.22 million) in 2023. Additionally,  850 Moroccan companies were registered as active members of Dubai Chamber of Commerce at the end of Q1 2024, with 99 joining during the first three months of the year. Morocco ranked fourth among African nations in terms of the number of active members of Dubai Chamber of Commerce at the end of Q1 2024.
 
The trade mission saw representatives from 18 diverse Dubai companies across various sectors like agriculture, cosmetics, construction, energy, trading, and healthcare participate. As part of the business forum, Dubai Chamber highlighted the emirate’s competitive advantages for Moroccan firms, and bilateral meetings between Dubai and Moroccan companies took place over two days, along with site visits.  An insightful panel discussion featuring experts from prominent economic sectors discussed the opportunities available in the Moroccan market for companies from Dubai, together with valuable guidance for businesses and investors. -TradeArabia News Service
 



Tags:

More Industry, Logistics & Shipping Stories

calendarCalendar of Events

Ads