The Egyptian-Moroccan Joint Business Council, led by Nezar Abou-Ismail, convened its inaugural meeting to discuss strategies for enhancing communication and collaboration between the two countries, with a focus on boosting investments and trade.
Abou-Ismail highlighted the council’s discussions on overcoming challenges faced by investors in both nations through direct engagement with officials. The meeting also explored opportunities to deepen economic integration and expand mutual investments in sectors such as renewable energy, agriculture, infrastructure, construction, tourism, pharmaceuticals, automotive, clothing, food industries, and electrical appliances.
The council resolved to organize a delegation of Egyptian businessmen to visit Morocco in the near future. The delegation will explore investment opportunities and outline plans to increase Egyptian investments in Morocco. Abou-Ismail emphasized the goal of positioning Egypt as a gateway for Moroccan exports to East Africa, facilitated by organizing exhibitions for Egyptian and Moroccan products in both countries.
Currently, 295 Moroccan companies operate in Egypt, with investments totaling approximately $230m. Annual trade exchange between the two nations stands at $1.3bn, with ambitions to further increase these figures.
Looking ahead, Abou-Ismail revealed plans to present four industrial projects to the Moroccan Minister of Trade early next year. These projects, involving partnerships between Egyptian and Moroccan businessmen, will be studied and implemented collaboratively to drive industrial growth in both countries.
Egypt’s exports to Morocco include a wide range of essential goods, such as iron and steel products, building materials like cement and ceramics, coke and carbon, agricultural fertilizers, and chemicals. The export portfolio also features food products like vegetable oils, agricultural crops—including vegetables, fruits, and dates—as well as electrical appliances, engineering goods, plastics, and paper products.
This growing collaboration underscores the commitment of both nations to enhance their economic partnership for mutual benefit.
Daily News Egypt
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