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Doha – An Egyptian business delegation will soon visit Morocco to boost bilateral investments and trade cooperation between the two North African nations, the Egyptian-Moroccan Joint Business Council announced on Monday.
The announcement came during the council’s first meeting, led by Chairman Nezar Abou-Ismail.
According to Egyptian media, the council discussed strategies to address investment challenges through direct engagement with officials from both countries.
The delegation will explore opportunities in key sectors including renewable energy, agriculture, infrastructure, construction, tourism, pharmaceuticals, automotive, clothing, food industries, and electrical appliances.
Abou-Ismail revealed that four industrial projects will be presented to Morocco’s Minister of Trade in early 2025, involving partnerships between Egyptian and Moroccan businesses.
Egypt-Morocco economic ties
The current trade exchange between Egypt and Morocco stands at $1.3 billion annually, with 295 Moroccan companies operating in Egypt through investments totaling $230 million.
Egypt’s exports to Morocco encompass iron and steel products, building materials, cement, ceramics, coke, carbon, agricultural fertilizers, chemicals, vegetable oils, agricultural crops, electrical appliances, engineering goods, plastics, and paper products.
The two countries are signatories to multiple trade agreements, including the Agadir Agreement signed in 2004, which established a free trade zone between Egypt, Morocco, Tunisia, and Jordan.
In January 2022, both nations further strengthened their economic ties through a bilateral free trade agreement, which included provisions for the Moroccan Institute for Normalization (IMANOR) to certify Moroccan products for the Egyptian market.
Read also: Morocco, Egypt Pledge to Strengthen Bilateral Ties
