Morocco is gradually increasing its car exports to the Egyptian market, aiming to reach 18,000 vehicles per year as part of recent economic understandings between the two countries. Currently, the value of Egypt’s imports of Moroccan cars ranges between $15 and $20 million annually.
Nizar Abu Ismail, head of the Moroccan-Egyptian Business Council, confirmed that the automotive industry is a significant pillar of Morocco’s exports. The country seeks to achieve a balanced trade relationship with its partners by linking its imports from the Egyptian market to an increase in vehicle exports.
Abu Ismail explained that Morocco has made significant progress in developing its automotive industry and desires to solidify this advantage by opening new markets, particularly the Egyptian market, which has substantial consumer and commercial potential in this sector.
He called for the adoption of modern mechanisms to encourage joint investments, particularly by facilitating Moroccan investors’ access to the Egyptian market through integrated incentives, including tax exemptions and simplifying the procedures for allocating industrial land, which would enhance the business environment and stimulate investment initiatives.
He announced that the council is starting to form specialized committees to enhance bilateral cooperation in several vital areas, including industry, automotive, energy, logistics, maritime transport, technology, and finance, along with a dedicated committee for vocational training and human resources, as part of a shared vision aimed at establishing a long-term strategic partnership between the two countries.
