Expected Increase in Moroccan Exports to Egypt to Reach 5 Billion Dirhams by 2027
The Secretary of State for Foreign Trade, Omar Hajjira, has projected a significant increase in Moroccan exports to the Egyptian market, estimating a rise from 755 million dirhams currently to 5 billion dirhams by 2027. During a question-and-answer session in the House of Representatives on Monday, he noted that this development follows a crucial work visit by a Moroccan delegation to the Arab Republic of Egypt last weekend, which included over 40 businesspeople and exporters.
He highlighted that the visit led to important initial results, including more than 200 direct meetings between economic actors from both sides, culminating in interim agreements expected to be widely activated in the near future. He emphasized the mutual desire to improve the trade balance between the two countries, asserting that the trade relations between Morocco and Egypt serve as a model for Arab cooperation based on mutual economic interests and strong historical ties.
There has been a notable development in the automotive industry, with the number of Moroccan cars exported to the Egyptian market increasing from 400 units to 3,000 units currently, with the potential to reach 5,000 units this year and 8,000 units by 2026. He considered this development to reflect a new dynamism in the economic relations between the two countries, aligning with the wise vision and royal directives of King Mohammed VI aimed at enhancing economic integration and fruitful partnerships for a promising shared future.
