Abu Dhabi, 04/12/2023 (MAP) – In a momentous diplomatic event, His Majesty King Mohammed VI and His Highness Sheikh Mohammed bin Zayed Al-Nahyan, President of the State of the United Arab Emirates (UAE), signed a groundbreaking declaration titled “Towards an innovative, renewed and consolidated partnership between the Kingdom of Morocco and the State of the United Arab Emirates.” The agreement, aimed at fortifying relations between the two nations, outlines a roadmap for enhanced collaboration, particularly in the economic sphere, fostering progress and prosperity for both countries.
The declaration, signed during King Mohammed VI’s working and fraternal visit to the UAE on December 4 and 5, 2023, underscores the deep-rooted ties between Morocco and the UAE. Building on the foundations laid by the late HM Hassan II and HH Sheikh Zayed bin Sultan Al-Nahyan, the agreement seeks to propel the relationship into new dimensions, driven by shared interests and aspirations.
The objectives and principles outlined in the declaration emphasize the commitment to achieving qualitative solidarity and sustainable investment. The comprehensive model of economic cooperation aims to elevate bilateral economic, trade, investment, and industrial relations to the level of deep political and popular ties. Both nations expressed a resolute determination to work together towards common development goals, fostering a win-win environment.
Key Highlights of the Declaration:
- Strategic Economic Partnerships: The declaration emphasizes the ambition to establish joint strategic economic partnerships, particularly in regional and international markets, with a special focus on Africa.
- Identified Sectors for Collaboration:
- Infrastructure: Expansion of railways, airport development, and port management.
- Water, Energy, and Sustainable Development: Projects related to water transfer, dams, renewable energies, and green hydrogen production.
- Food Security: Exploring partnership opportunities with the Office Chérifien des Phosphates in the field of fertilizers.
- Tourism and Real Estate: Joint projects on the Mediterranean coast and in the regions of Dakhla and Tarfaya.
- Socio-Economic Development: Both countries commit to contributing to the reconstruction and redevelopment of earthquake-affected regions, along with projects in education, health, communications, and digital economy.
- Financial Sector Cooperation: Exploration of opportunities in the financial sector and capital markets, as well as cooperation between sovereign funds and investment funds.
- African Energy Infrastructure: Collaboration in the development of energy infrastructure with African countries, including the Africa-Atlantic gas pipeline project, the “Dakhla: Gateway to Africa” project, and the creation and management of a commercial maritime fleet.
- Memoranda of Understanding: Specific memoranda of understanding will be developed for each project, outlining characteristics, financing methods, implementation schedules, and commitments of all contributing parties.
- Financing Mechanisms: The financing of projects will involve a combination of capital, concessional loans, commercial loans, innovative financing mechanisms, and grants.
- Implementation and Monitoring Mechanisms: A specific memorandum of understanding will establish a mechanism for the implementation and monitoring of projects, ensuring regular meetings and reporting to the competent authorities.
The declaration marks a historic milestone in the diplomatic relations between Morocco and the UAE, laying the groundwork for a new era of collaboration, economic growth, and mutual prosperity. Both nations look forward to realizing the ambitious projects outlined in the declaration and strengthening their bond for the benefit of their citizens and the broader international community.
