His Majesty King Mohammed VI and Emirati President His Highness Sheikh Mohamed Bin Zayed Al Nahyan signed on December 4 in Abu Dhabi, the Declaration “Towards Innovative, Renewed and Deep-Rooted Partnership between the Kingdom of Morocco and the United Arab Emirates”, which aims to boost relations between the two countries through economic partnerships serving mutual interests and generating progress and prosperity for the two brotherly peoples.
Here follows the declaration text:
“At the kind invitation of His Highness Sheikh Mohamed Bin Zayed Al Nahyan, President of the State of the United Arab Emirates, His Majesty King Mohammed VI, the Sovereign of Morocco, paid a brotherly working visit to the State of the United Arab Emirates on December 4 and 5, 2023.
– The blessed visit that His Majesty the King is conducting to the United Arab Emirates (UAE) at the invitation of the Emirati President is a consecration of the deeply-rooted relations between the two brotherly countries, the foundations of which were laid by the late His Majesty King Hassan II and His Highness Sheikh Zayed Bin Sultan Al-Nahyan, and further consolidated by the bonds of brotherhood between the Heads of State of the two countries, His Majesty King Mohammed VI and His Highness Sheikh Mohamed Bin Zayed Al Nahyan, may Allah preserve them.
– During their bilateral talks, which were characterized by total trust and a full convergence of views on complementarity opportunities and pragmatic cooperation between the two countries within the framework of synergy and boosting of exchanges, the two Heads of State reiterated their firm desire to strengthen relations between the two countries and elevate their common cooperation towards broader horizons, through economic partnerships serving mutual interests and generating progress and prosperity for the two brotherly peoples.
– The two leaders expressed the desire of the two brotherly countries to establish a joint and pioneering strategic economic partnership in regional and international markets, especially in Africa.
– Capitalizing on bilateral relations and the success of Emirati investments in Morocco to accompany the economic and social development program for the years 2024-2029 and in support of the evolution of the legislative and regulatory arsenal guaranteeing opportunities for promising investments and an attractive business climate, the two Heads of State, may Allah preserve them, have decided the following in accordance with the arrangements mentioned in this Declaration:
Establishing an innovative, renewed, and deep-rooted partnership between the Kingdom of Morocco and the State of the United Arab Emirates:
FIRST: OBJECTIVES AND PRINCIPLES
1. The partnership aims to achieve the following:
a- Transforming complementarity between the two countries into qualitative solidarity and sustainable investment, to raise bilateral relations at the economic, commercial, investment, and industrial levels to the rank of deep political ties in the service of common development and prosperity objectives;
b- Founding a global and balanced model of economic cooperation and investment, open to the private sector and ensuring benefits and development for all;
c- Adopting pragmatic and concrete cooperation through the creation of projects that meet the interests of both parties, particularly in the social, economic, and infrastructure sectors, transport, drinking water, agriculture, energy, tourism, and real estate as well as in the areas of training and employment.
2. Cooperation between the two parties is based on the following principles:
a- Giving a strong and renewed impetus to partnership, economic development, and investment between the two countries, per the legislation in force and in line with international commitments;
b- Taking into account the supreme interests and common concerns of both countries, while highly preserving mutual trust to achieve concrete cooperation for the development of common interests based on the win-win principle;
c- Implementing pragmatic and innovative cooperation models within the framework of mutual understanding to support and implement qualitative projects, through the mobilization of financial support between the public and private sectors and capital investment.
SECOND: AREAS OF PARTNERSHIP AND COOPERATION
Both parties pledge to work on the basis of mutual understanding and give priority to the following sectors:
1. Identification of investment opportunities in the field of infrastructure:
a- Railways extension, with priority given particularly to the Kenitra-Marrakech High-Speed Train;
b- Airport development, including Casablanca, Marrakech, Dakhla and Nador;
c- Investment and management of ports, particularly the Nador West Med port and the Port of Dakhla Atlantique;
d- Feasibility of any related project will subsequently be agreed upon by both parties.
2. Exploration of investment opportunities in sectors relating to water, energy, and sustainable development:
a- Present and future projects for water transfer, construction of dams intended for drinking water, agriculture and hydroelectric dams;
b- Renewable energies, green hydrogen, and its derivatives;
c- Energy transport, especially the construction and operation of electricity transmission lines;
d- Both parties will subsequently agree on the feasibility of any related project.
3. Identification of strategic cooperation opportunities in the field of food security, through the exploration of partnership opportunities with the Office Chérifien des Phosphates in the field of fertilizers.
4. Development of joint projects in the fields of tourism and real estate, particularly on the Mediterranean coast and in the regions of Dakhla and Tarfaya.
5. Examination of development cooperation and possibilities for carrying out socio-economic projects:
a- Contribution to the reconstruction and redevelopment of regions affected by Al Haouz earthquake;
b- Implementation and financing of projects in the field of construction of schools and healthcare facilities;
c- Study of the implementation and financing of projects in the field of communications and digital economy;
d- Examination of other projects of an economic nature and cooperation within the framework of a partnership between the public and private sectors.
6. Exploration and promotion of collaboration opportunities in the fields of industry, agriculture, and agri-food to contribute to boosting economic and commercial relations.
7. Examination of cooperation opportunities in the field of finance and capital markets.
8. Exploration of cooperation and partnership prospects between the Sovereign and investment funds of the two countries;
9. Examination of possibilities for cooperation in the field of economic partnerships and energy infrastructure development with African countries, in accordance with legal and legislative systems, particularly concerning:
a- The Africa-Atlantic gas pipeline project;
b- The study and development of the integrated project “Dakhla Gateway to Africa”;
c- The creation and management of a commercial maritime fleet.
10. Both parties will subsequently agree on the feasibility of any related projects.
THIRD: MEMORANDUMS OF UNDERSTANDING
Both parties will work through competent bodies to study the strategic projects mentioned herein. The above-mentioned projects and others will be the subject of specific memorandums of understanding, by mutual agreement, that meet the expectations and goals of both parties and define the characteristics of the project as well as the funding terms and time required to complete the project, as committed by all contributing parties. These memorandums of understanding shall be reviewed and signed no later than three months from the date of this Declaration.
FOURTH: FUNDING OF INVESTMENTS INCLUDED IN THE DECLARATION
1. The two parties will mutually agree on the methods of financing the projects in accordance with the visions defined by the two parties, in concert with their possible partners if necessary;
2. Both parties agree that the funding of investment will combine:
b- Concessional loans;
c- Competitive commercial loans;
d- Innovative funding mechanisms;
FIFTH: MECHANISMS OF IMPLEMENTATION AND MONITORING
1. Through a specific memorandum of understanding, the two parties establish a mechanism for the implementation and monitoring of projects that will be programmed per the provisions of this Declaration;
2. This mechanism includes representatives of both parties who will determine its composition when necessary;
3. The mechanism’s meetings will be held regularly and alternately between Morocco and the United Arab Emirates, according to a mutually agreed format, and reports will be submitted to the competent parties.”