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Morocco and the United Arab Emirates have completed negotiations aimed at reaching a comprehensive economic partnership agreement (CEPA). The final touches have been put on the provisions of this historic agreement, which the two countries hope will usher in a new era of shared economic growth in the course of bilateral relations.
Ryad Mezzour, Morocco’s Minister of Industry and Trade, and Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, signed a joint statement announcing the successful completion of the talks and the finalization of the agreement’s provisions. Now UAE has emerged as the largest Arab investor in Morocco, with total investments reaching an impressive USD15 billion across various strategic projects.
This agreement goes beyond the scope of liberalizing trade exchanges to include many areas related to investments and economic cooperation, making it a model framework for establishing a solid foundation to elevate the level of cooperation in the economic and investment fields.
Al Zeyoudi welcomed the successful conclusion of the CEPA negotiations with Morocco. The CEPA between the UAE and Morocco is an important addition to the program of global economic agreements that the UAE continues to implement, stated the Emirati minister. The aim is to expand our network of trade and investment partners around the world by concluding promising partnerships with markets of strategic importance regionally and internationally on the map of international trade.
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The agreement, which is expected to be officially signed at a later date and then ratified and entered into force, aims to stimulate the free flow of goods and services between the two countries by removing unnecessary trade barriers, creating flexible rules of origin for goods, improving access to markets for services, and enhancing customs coordination.
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