The United Arab Emirates 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.
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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.
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