Morocco and Egypt strengthen trade ties with fast track system

Morocco and Egypt have taken significant steps to enhance their bilateral trade relations through the establishment of an Egyptian “Fast Track” system, aimed at streamlining access for Moroccan exports to Egyptian markets.

According to a statement from Morocco’s Ministry of Industry and Trade, this initiative emerged from high-level discussions involving Morocco’s Minister of Industry and Trade, Ryad Mezzour, Secretary of State for Foreign Trade, Omar Hejira, and Egypt’s Minister of Investment and Foreign Trade, Hassan Al-Khatib.

The ministers agreed on concrete mechanisms to tackle trade barriers, including the creation of a direct communication channel to address obstacles and facilitate smoother commercial exchanges. This system will also track trade data, identify challenges hindering trade goals, and propose solutions to overcome them.

A key focus of the agreement is the expansion of Moroccan automotive exports to Egypt, with both nations committing to intensify efforts to increase the volume and value of overall Moroccan exports to the Egyptian market.

An economic partnership forum has been scheduled for April, aimed at strengthening business-to-business ties and fostering collaboration between private sector entities from both countries. Additionally, the ministers announced plans to reactivate the Business Council and prepare for a joint commercial commission meeting in the near future.

In the coming weeks, Moroccan exporters will visit Egypt to explore opportunities for deepening trade relations, with a particular emphasis on advancing the automotive export sector and promoting bilateral cooperation.

Hassan Al-Khatib, Egypt’s Minister of Investment and Foreign Trade, highlighted the “outstanding relations” and “deep, solid, and lasting ties” between Morocco and Egypt. He praised their shared understanding within international bodies and emphasized the importance of aligning perspectives to restructure trade frameworks for more seamless exchanges.

This collaborative effort is part of a broader initiative to enhance the “brotherly cooperation and high-quality economic and commercial partnership” between the two nations. Both sides expressed optimism about building on their historical friendship to unlock new opportunities for trade and investment.

The groundwork for this agreement follows a series of diplomatic engagements, including a meeting in September 2024 between Morocco’s Foreign Minister Nasser Bourita and Egypt’s Foreign Minister Badr Abdelatty during the Arab League Council’s 162nd ministerial session. This meeting reaffirmed their commitment to strengthening bilateral ties, culminating in the signing of a memorandum of understanding with a specific focus on road safety.

Through these measures, Morocco and Egypt aim to forge stronger economic ties and capitalize on their shared vision for sustainable and mutually beneficial trade relations.