Morocco Targets Export of 3,000 Vehicles Annually to Egypt Amid Growing Bilateral Economic Ties
Rabat, The Gulf Observer: Morocco is aiming to export 3,000 vehicles annually to Egypt as part of an ambitious plan to rebalance trade between the two North African nations, according to Nizar Abu Ismail, President of the Egypt-Morocco Business Council.
In an interview with Al Borsa News, Abu Ismail outlined several initiatives designed to strengthen economic ties, noting that Egyptian investments in Morocco have already exceeded $700 million. Among the most notable is a major tourism development project led by an Egyptian investor, aimed at building an integrated tourist city on Morocco’s coast. The project is expected to draw more than $500 million in investments over the next three to four years and create significant job opportunities.
“This tourism project is one of Egypt’s largest in North Africa,” Abu Ismail said, highlighting its role in fostering “an attractive investment environment and opening new horizons for cooperation.”
Looking ahead, around 30 Egyptian companies are reportedly considering investment in Morocco, particularly through the establishment of new factories within the next three years. These companies span sectors such as:
- Agri-food
- Food supplements
- Automotive parts
- Fishing vessels and the fishing industry
- Manufacturing
The expansion strategy aims to capitalize on Morocco’s geographical proximity to Europe and its network of free trade agreements, offering streamlined access to both Western and African markets.
These developments follow a series of recent economic initiatives, including the launch of an Egyptian “Fast Track” system to facilitate Moroccan exports into Egypt.
Earlier this month, Cairo hosted the Egypt-Morocco Investment and Trade Forum, bringing together officials, entrepreneurs, and business leaders. The event coincided with a visit from a Moroccan economic delegation, led by the General Confederation of Moroccan Enterprises (CGEM), which seeks to enhance the visibility of Moroccan products in the Egyptian market.
