World News | UAE, Morocco review strengthening financial, economic cooperation

Rabat [Morocco], 1 May (ANI/WAM): UAE Minister of Finance Mohammed bin Hadi Al Husseini recently met with Moroccan Minister of Economy and Finance Nadia Fetah Alavi on the sidelines of the Joint Annual Meeting of Arab Financial Institutions Held in Rabat, Morocco on 29 April. The meeting sought to discuss ways to strengthen the areas of financial and economic cooperation between the UAE and Morocco.

Joining Al Hussaini in attendance were Khaled Mohammed Balama, Governor of the Central Bank of the United Arab Emirates (CBUAE); Mohammed Saif Al Suwaidi, Director General of the Abu Dhabi Fund for Development (ADFD); and several senior officials from both parties.

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Al Hussaini reiterated the UAE’s desire to further strengthen bilateral relations with the Kingdom of Morocco to include all important and priority sectors.

“This meeting is a continuation of the efforts of both parties to strengthen cooperation and partnership in various fields of mutual interest and support sustainable economic growth in order to serve the aspirations and vision of the future of both countries,” the minister said.

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The UAE is the largest Arab investor in Morocco and the second largest in the world, with investments exceeding AED50 billion by the end of 2021. The UAE is also Morocco’s second largest Arab trading partner in 2021, and the foreign oil trade volume between the two countries will reach AED 3.6 billion in 2022.

During the first meeting of the Morocco-UAE Joint Economic Council in Rabat, the governments of the UAE and Morocco agreed to double the volume of trade and investment exchanges over the next seven years and to strengthen cooperation in priority areas on the economic agenda of both countries . (ANI/WAM)

(This is an unedited and auto-generated story from a Syndicated News feed, the content body may not have been modified or edited by LatestLY staff)