Dubai Chamber Concludes Trade Mission In Casablanca, Signs Four MoUs To Boost Business

Dubai International Chamber, one of the three chambers under Dubai Chambers, has successfully concluded its trade mission to Senegal and Morocco as part of the ‘New Horizons’ initiative. The chamber signed four memorandums of understanding (MoUs) in Morocco and arranged 300 bilateral meetings in Casablanca between companies from Dubai and Morocco to explore business growth and economic partnerships.

In line with its goal of strengthening cooperation, promoting bilateral trade and investments, and building constructive partnerships, Dubai Chambers signed MoUs with the Moroccan Agency for Investment and Export Development, the General Confederation of Moroccan Enterprises (CGEM), the Chamber of Commerce, Industry and Services of Casablanca-Settat, and the Chamber of Commerce, Industry and Services of Rabat-Salé-Kenitra.

The agreements aim to create more opportunities for cooperation between Dubai-based companies and their Moroccan counterparts to drive expansion in promising sectors. The organisations will collaborate to arrange trade missions, conferences, and business events, as well as engage in mutually beneficial sharing of knowledge and expertise to support growth and innovation.

The mission's activities in Casablanca included a special business forum titled ‘Doing Business with Morocco,’ organised by the Dubai International Chamber with support from the UAE Embassy in Rabat and the four parties that signed MoUs with Dubai Chambers. The event attracted 420 participants, including senior officials, business leaders, and local companies interested in exploring potential partnerships.

During his opening remarks at the event, Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, highlighted the growing bilateral cooperation between the two markets. He stated, "The economy of the Kingdom of Morocco has made significant strides that enhance its attractiveness among private sector companies from Dubai. Our mission creates an impactful platform to strengthen trade and investment relations between the business communities in Dubai and Morocco."

Non-oil trade between Dubai and Morocco reached AED 3.2 billion in 2023. A total of 850 Moroccan companies were registered as active members of Dubai Chamber of Commerce at the end of Q1 2024, with 99 joining during the first three months of the year. Morocco ranked fourth among African nations in terms of active members of Dubai Chamber of Commerce at the end of Q1 2024.

Diverse Sector Representation

The trade mission was attended by representatives from 18 companies in Dubai operating across diverse sectors including agriculture and food; beauty and cosmetics; construction, real estate, and retail; construction materials; electronics; energy; environmental solutions; fashion ecommerce; food and beverages; general trading; healthcare and medical supplies; information technology; oil and gas; supply chain and logistics.

Presentations and Panel Discussions

As part of the business forum, the chamber delivered an informative presentation on Dubai’s trade and economic landscape that highlighted the competitive advantages the emirate offers for Moroccan companies. An insightful panel discussion featuring experts from prominent economic sectors discussed opportunities available in the Moroccan market for companies from Dubai.

Bilateral Business Meetings

This was followed by a series of bilateral business meetings between representatives from companies in Dubai and Morocco, which continued during the second day of the mission. Additionally, the delegation participated in a series of site visits to Moroccan companies.

Promising Sectors for Trade

The chamber has identified a range of promising sectors for exports from Dubai to Morocco including aluminium and copper wire, wheat, dates, mobile devices, electronics, and plastics. Key sectors with investment opportunities in Morocco for Dubai-based companies include agriculture and fisheries, renewable energy, telecommunications, and business services.

With inputs from WAM