Egypt and Morocco seek to consolidate their economic, commercial and strategic partnership by diplomatic route, with the holding of economic heights such as the Egyptian-Moroccan forum on investment and trade, organized in Cairo under the slogan “A promising economic partnership”.
The forum brought together ministers, senior officials and investors from the two countries, with the aim of overcoming recent trade tensions and promoting bilateral cooperation. The visit aims to improve the presence of Moroccan products on the Egyptian market, with the aim of reaching a total of $ 500 million in Moroccan exports in 2026.
Morocco and Egypt both benefit from a privileged geographical position which, associated with their infrastructure and their vision of development, has placed them as the two actors called to lead economic cooperation on the African continent. It should be noted that Egypt and Morocco have two of the most important ports in the world: The port of Alexandria and the port of Tangier Med.
During the summit, Omar HejiraSecretary of State for Foreign Trade, underlined the need to transform the challenges of global trade into real opportunities, and highlighted the efforts made by his country through the extension and development of port infrastructure such as Tangier Med and Nador West. “We hope to integrate between economic players from the two countries, rather than competition between them,” said Hejira.
On the other hand, the Egyptian Minister of Commerce, Hassan Al-Khatibreaffirmed the commitment of his country through the abolition of customs tariffs on Moroccan exports and strengthening cooperation, highlighting the agreements between Rabat and Cairo. In the same vein, and strengthening the Minister’s statements, Ahmed nihad abdellatif, Egyptian ambassador to Morocco, said Egypt will set up a “Fast track” To facilitate formalities
- In this context, the importance of Agadir’s agreementwhich constitutes a promising regional framework for economic and commercial integration between the Member States, was underlined as a key tool to consolidate regional economic integration.
Mohamed Ali Tazipresident of the Moroccan-Egyptian Affairs Council, called for the establishment of an integrated and sustainable economic alliance. “Morocco and Egypt have the capacity to create important employment opportunities, transfer knowledge and improve the competitiveness of industrial systems in two countries”he said.
The summit highlighted the great potential for trade relations. With more than 295 Moroccan companies operating in Egypt And a total investment of $ 230 million, Morocco has increased its trade by 30 % with this African country since the economic recovery which followed the pandemic in 2020. Currently, Morocco represents 6 % of Egyptian exports.
This increase in the number of companies favored trade between Rabat and Cairo, which amount to more than $ 1.1 billion per year. However, during the forum, the need to promote balanced relationships has been underlined. In addition, the establishment of a new sustainable economic alliance, based on the development of the added value of products manufactured in the two countries, has been proposed.
Finally, the forum made it possible to explore investment opportunities in strategic sectors such as agriculture, food industry, automobile, electricity and electronics, textiles, seafood, energy and renewable energies, pharmaceuticals, medical and paramedical supplies, cosmetics, construction sector and others.
