Ahmed Samir, Egypt’s Minister of Trade and Industry, met with his Moroccan counterpart, Riad Mazour, and highlighted that the trade volume between the two countries hit nearly $578 million during January-September 2023, with Egyptian exports to Morocco reaching about $561 million.
Samir emphasized the significant opportunities for joint investment cooperation following Morocco’s accession to the Industrial Integration Partnership Initiative aimed at sustainable economic development.
He highlighted the importance of leveraging the trade agreements linking the two countries, including the Free Trade Agreement, the Arab Trade Facilitation and Development Agreement, and the Agadir Agreement.
These agreements facilitate trade exchange and joint investments, along with restructuring and revitalizing the role of the joint business council to establish a genuine partnership between the private sectors of Egypt and Morocco.
The ministers discussed the exchange of trade missions to explore investment opportunities and share expertise in various economic fields. They also spoke about technology transfer and organizing training programs for technicians and industrial workers.
The meeting also reviewed major projects and investment opportunities available to Moroccan investors in Egypt, especially considering the recent investment incentives granted to the industrial sector.
They discussed forming an industrial committee between the two countries to develop the necessary mechanisms for technical cooperation and implementation plans for industrial collaboration.
On his part, Dr. Riad Mazour, Moroccan Minister of Industry, Trade, and Tourism, expressed his country’s commitment to enhancing joint economic cooperation, especially given the deep political and historical relations between the two nations.
