New Egyptian-Moroccan work group formed: Kabil

CAIRO - 18 JULY 2017: Minister of Trade and Industry Tarek Kabil announced a formation of an Egyptian Moroccan work group to boost bilateral economic cooperation between the two countries in particular sectors to deal with challenges that impede trading flow between them.

“We discussed the importance of achieving an integration in exports between the two countries, through enhancing cooperation between Export Development Authority and its Moroccan counterpart benefiting from the location of the two countries for easing Egyptian exports access to West Africa zone, in addition to easing Moroccan exports access to Asian market and East Africa zone,” Kabil said in a statement released on Tuesday after talks held between the two parties.

Kabil added that talks addressed investment opportunities for Moroccan investors in frame of national mega project in Egypt especially Golden Triangle Project benefiting from Moroccan experience in the mining field.

Trading ties between Egypt and Morocco witnessed a significant evolution through the past 4 years, as trading volume jumped from $475 million in 2013 to reach $680 million in 2016, Egyptian exports volume represented $325 million of it.

Petrochemicals, fertilizers, food industries, building materials, engineering and electronic goods, medical industries, agriculture yields, and textiles are the main Egyptian exports headed to Morocco
Morocco is ranked 40 for the countries that have investments in Egypt in an investment volume of $80 million through 184 firms working in cement, chemical industries, textiles, and autos batteries sectors, in addition to firms that work in constructions, tourism services, and the telecommunication field, according to the Ministry of Trade and Industry data.