Morocco Bets on the Egyptian Market to Support Its Exports and Diversify Trade Partnerships
In a move aimed at strengthening Morocco’s presence in foreign markets and reducing the trade deficit with Egypt, a trade delegation comprising 20 Moroccan companies is set to visit Cairo at the beginning of May. This visit seeks to explore ways to increase the value of Moroccan exports to the Egyptian market and achieve a better balance in trade exchanges between the two countries.
Hassan Al-Santisi, president of the Moroccan Exporters Association, stated in a media interview that Morocco aims to boost its exports to Egypt to $500 million by next year, nearly six times the current levels. Nizar Abu Ismail, president of the Egyptian-Moroccan Business Council, explained that Cairo has committed to increasing its imports from Morocco to the same level within three years.
Trade exchanges between the two countries faced challenges last year following Morocco’s decision to suspend the entry of certain Egyptian goods in protest against a trade balance heavily favoring Egypt, where Egyptian exports make up about 96% of total trade exchanges, compared to just 4% for imports from Morocco.
In the context of enhancing economic relations, the Egyptian Minister of Investment and Foreign Trade, Hassan Al-Khatib, and his Moroccan counterpart, Omar Hjira, held a meeting in Rabat last February, during which they agreed to open a new page of commercial cooperation between the two countries.
Nizar Abu Ismail noted that eight Moroccan companies in diverse fields such as auto parts, food industries, fragrance concentrates, and flavor enhancers have been identified to increase their exports to the Egyptian market.
Data from Egypt’s Central Agency for Public Mobilization and Statistics indicates that trade between the two countries rose by 27% in 2024, reaching $1.08 billion, compared to $851.96 million in 2023. Additionally, Egyptian exports to Morocco increased by 24.6% to $1.03 billion, while Egyptian imports from Morocco surged by 100.7% to $46.27 million.
Ali Maïou, head of the Exhibitions and National Events Committee at the Casablanca Chamber of Commerce, Industry and Services, confirmed that the upcoming visit will see the participation of over 20 Moroccan business leaders in collaboration with the Moroccan Exporters Association, emphasizing the importance of this step in exploring new business opportunities and holding bilateral meetings with Egyptian companies.
Morocco and Egypt are linked by several free trade agreements, the most notable being the Agadir Agreement, which came into force in 2007 and aims to establish a free trade area among Mediterranean Arab countries, promote trade exchanges, and encourage joint investments.
Morocco imports a variety of products from Egypt, including ammonia, rubber tires, wood, cocoa, canned vegetables, dates, oilseeds, and glass, while the Kingdom exports cars and their parts, spices, phosphoric acid, fruits, sugar, electrical conductors, and canned fish to Egypt.
