A high-level UAE delegation, led by Minister of Economy Abdulla Al Marri, will visit Morocco on Thursday to discuss boosting bilateral co-operation, investment flows and economic partnerships.
Officials from the two countries will explore investment opportunities in various sectors and ways to “strengthen them during the next phase, ensuring growth and prosperity”, the ministry said in a statement on Wednesday.
The sectors that the talks will focus on include energy and renewable energy, industry, trade and mining, tourism and infrastructure, information and communications technology, food security, transport and logistics, agricultural technology, entrepreneurship and others that will support the future economy.
The coming visit also aims to “motivate the private sector and entrepreneurs” to contribute to the development of trade and economic partnership between the countries, the statement said.
Non-oil trade between the UAE and Morocco jumped 44 per cent on an annual basis to Dh3.1 billion ($840 million) last year, official data showed.
The UAE has recorded a spike in non-oil foreign trade as it looks to boost international economic partnerships.
Non-oil foreign trade reached a record Dh499.7bn in the first quarter of this year, up more than 20 per cent annually, data from the Emirates’ Federal Competitiveness and Statistics Centre showed.
The UAE signed a Comprehensive Economic Partnership Agreement with India, Asia’s second-largest economy, in February, which is expected to boost non-oil trade between the two countries to $100bn in five years, from $60bn currently.
Late last month, the UAE also signed a Cepa deal with Israel, which is expected to push the value of non-oil bilateral trade to more than $10bn within five years.
The UAE is also in talks on similar agreements with South Korea and Indonesia.
This week, a senior official UAE delegation, led by Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, visited Japan to discuss ways to strengthen economic, energy and industrial co-operation and drive low-carbon growth opportunities.
During the visit to Morocco this week, the UAE delegation will also participate in an interactive session on future investment opportunities, organised by the Investopia summit.
Investopia is one of the events within the first set of the Projects of the 50 developmental and economic initiative announced by the UAE in 2021.
“These will help elevate the strategic relations between the two countries to higher levels of co-operation and integration, as well as utilise Investopia’s global experience in the development of economic and commercial sectors in Morocco,” the statement said.
The visiting UAE delegation comprises several government entities including the Ministry of Foreign Affairs and International Co-operation, the Federation of Chambers of Commerce and Industry and the UAE International Investors Council.
How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
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Results:
Men's wheelchair 800m T34: 1. Walid Ktila (TUN) 1.44.79; 2. Mohammed Al Hammadi (UAE) 1.45.88; 3. Isaac Towers (GBR) 1.46.46.
Dubai World Cup Carnival Thursday race card
6.30pm: Dubai Millennium Stakes Group Three US$200,000 (Turf) 2,000m
7.05pm: Handicap $135,000 (T) 1,600m
7.40pm: UAE Oaks Group Three $250,000 (Dirt) 1,900m
8.15pm: Zabeel Mile Group Two $250,000 (T) 1,600m
8.50pm: Meydan Sprint Group Two $250,000 (T) 1,000m
9.25pm: Handicap $135,000 (D) 1,400m
10pm: Handicap $135,000 (T) 1,600m
Women & Power: A Manifesto
Mary Beard
Profile Books and London Review of Books
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8 traditional Jamaican dishes to try at Kingston 21
- Trench Town Rock: Jamaican-style curry goat served in a pastry basket with a carrot and potato garnish
- Rock Steady Jerk Chicken: chicken marinated for 24 hours and slow-cooked on the grill
- Mento Oxtail: flavoured oxtail stewed for five hours with herbs
- Ackee and salt fish: the national dish of Jamaica makes for a hearty breakfast
- Jamaican porridge: another breakfast favourite, can be made with peanut, cornmeal, banana and plantain
- Jamaican beef patty: a pastry with ground beef filling
- Hellshire Pon di Beach: Fresh fish with pickles
- Out of Many: traditional sweet potato pudding
Everton%20Fixtures
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Keep it fun and engaging
Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.
“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.
His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.
He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.
Company profile
Company name: Suraasa
Started: 2018
Founders: Rishabh Khanna, Ankit Khanna and Sahil Makker
Based: India, UAE and the UK
Industry: EdTech
Initial investment: More than $200,000 in seed funding
VEZEETA PROFILE
Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
Size: 300 employees
Funding: $22.6 million (as of September 2018)
Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
Ukraine%20exports
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Gulf Under 19s final
Dubai College A 50-12 Dubai College B
