The United Arab Emriates wants to bolster trade with Morocco to reach $7 billion within 10 years from $800 million in 2021, UAE Economy Minister Abdullah bin Touq Al Marri said on Thursday in Rabat.
For that purpose, the two countries will speed up container shipping to seven days from 40 days, Al Marri told Reuters before a visit to Africa’s largest port in Tangier, northern Morocco.
The UAE is one of the largest investors in Morocco, pouring $15 billion into the North African country in the past decade.
The UAE minister said he would discuss a trilateral deal with Moroccan officials to step up trade between Morocco, the UAE and Israel. The UAE and Israel have a free trade agreement.
“This will offer great opportunities for traders and investors,” he said.
(Reuters – Reporting by Ahmed Eljechtimi; Editing by Edmund Blair)
