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Dubai businesses are racing to unlock new opportunities in Morocco after the conclusion of a major trade mission that saw over $2 billion in UAE investments revealed and a swathe of new partnership agreements inked.

The Dubai International Chamber trade mission to Senegal and Morocco, part of the wider “New Horizons” initiative to boost ties with Africa, wrapped up this week in Casablanca after facilitating over 300 bilateral meetings between Dubai and Moroccan companies.

Deepening Dubai-Morocco Economic Ties

In an exclusive interview with Arabian Business, Hassane Berkani, President of the Casablanca Chamber of Commerce, Industry and Services, hailed the “close, brotherly bond” between Morocco and the UAE as the key foundation strengthening economic cooperation between the two nations.

Business Opportunities Between Dubai and Morocco

At a special business forum attended by over 420 business leaders and officials, Dubai Chambers signed four memorandums of understanding with key Moroccan entities – the Moroccan Investment and Export Development Agency (AMDIE), employers’ association CGEM, and the chambers of commerce for the Casablanca-Settat and Rabat-Salé-Kénitra regions.

UAE Emerges as Morocco’s Largest Arab Investor

According to Berkani, the UAE has emerged as Morocco’s single-largest Arab investor with over $30 billion invested to date – a sum expected to double in the coming years following the announcement of major new partnerships during King Mohammed VI’s visit to the UAE in December 2023.

FIFA World Cup 2030 and Morocco’s Investment Charter

FIFA World Cup 2030 is to be held in Morocco, Spain, Portugal, and South America. Morocco’s legal system is designed to make things easier for foreign investors – whether they are from the United Arab Emirates or not – with the target of adding about 1.5 million new hotel rooms in time for the 2030 World Cup.

As Morocco and Dubai look to leverage their deep historic ties and existing UAE-Morocco free trade deal to drive future economic integration, Berkani stressed the countries’ key focus on promoting mutual prosperity: “Historical and fraternal ties form a strong basis for Morocco and the UAE’s partnership. Both countries are collaborating closely to open up new opportunities and promote economic growth in a number of industries through coordinated efforts and a common goal.”