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Morocco and Egypt have pledged to bolster bilateral trade relations by creating an Egyptian “Fast Track” system.
The newfound system is designed to streamline access for Moroccan exports into Egyptian markets, according to a release from the Ministry of Industry and Trade.
The agreement is the fruit of high-level talks between Morocco’s Minister of Industry and Trade, Ryad Mezzour, Secretary of State for Foreign Trade, Omar Hejira, and Hassan Al-Khatib, Egypt’s Minister of Investment and Foreign Trade.
The ministry’s press release noted that the ministers established concrete mechanisms to facilitate trade, including a direct communication line to address obstacles between the two nations.
The new channel will monitor the two countries’ trade-related statistics, identify difficulties impeding trade objectives, and develop solutions to resolve them.
A key focus of the agreement is expanding Moroccan automotive exports to Egypt. In this respect, officials pledged “to make all necessary efforts to increase the volume and value” of overall Moroccan exports to the Egyptian market.
Meanwhile, an economic partnership forum is scheduled for April to further strengthen commercial ties between the two countries.
This business-to-business event aims to enhance commercial partnerships and business networking between private sector entities from Morocco and Egypt.
The ministers also agreed to reactivate the Business Council and prepare for a joint commercial commission meeting soon.
Moroccan exporters will visit Egypt in the coming weeks to explore opportunities for deepening trade relations, with special attention to developing the automotive export sector and enhancing bilateral cooperation.
Khatib pointed to the “outstanding relations” and “deep, solid, and lasting ties” between Morocco and Egypt.
He spoke of the consensus both countries share within international bodies, describing their bilateral relationship as based on “deep mutual understanding.”
The Egyptian minister noted that the meeting’s primary objective was to align perspectives and reorganize bilateral trade frameworks to facilitate smoother exchanges between the two countries.
This initiative represents part of a broader effort to strengthen the “brotherly cooperation and high-quality economic and commercial partnership” between Morocco and Egypt.
Both parties welcomed and hailed these efforts to build upon their historical friendship and create new opportunities for mutually beneficial trade and investment.
In September 2024, Morocco’s Foreign Minister Nasser Bourita and his Egyptian counterpart Badr Abdelatty held talks on the sidelines of the 162nd session of the Arab League Council’s ministers.
The meeting was an opportunity to renew both countries’ commitment to boost bilateral ties at all levels, culminating in both parties signing a memorandum of understanding with a pronounced focus on road safety.
Source: Morocco word news
