Egypt, Morocco keen on boosting trade exchange

CAIRO – 7 April 2018: Trade exchange between Egypt and Morocco has notably improved over the last period, though it is still below potential, Osama Geneidy board member of the Egyptian-Moroccan Businessmen Association said Saturday.

He said that trade between both countries could be easily boosted in light of a great potential, adding that trade exchange between Egypt and Morocco stands at $700 million, of which $400 million are Egypt’s exports.

Geneidy said that the association has organized two visits to Morocco, which resulted in several meetings with Moroccan businessmen and the signing of a protocol agreement with Morocco’s Trade and Industry Chamber.

He added that Moroccan businessmen are following up on Egypt’s reform measures that aim at encouraging investment.

Karim Heikal, another board member of the Egyptian-Moroccan Businessmen Association said that the association has put forward plans with all parties in Egypt and Morocco to develop economic relations between both states.

He added that the Moroccan side is very keen to boost trade exchange with Egypt in all fields.

Speaker of the Moroccan House of Representatives Al-Habib Al-Malki paid a visit to Cairo on Tuesday, where he met with President Abdel Fatah al-Sisi, Prime Minister Sherif Ismail, Foreign Minister Sameh Shoukry and Egyptian Parliament Speaker Ali Abdul Aal.

They discussed coordination on regional issues, including the Libyan crisis and countering terrorism, and ways to nurture bilateral investments.