Morocco to export 3,000 vehicles annually to Egypt amid growing bilateral investments

Nizar Abu Ismail, Chairman of the Egyptian-Moroccan Business Council, told Alborsaa News that Morocco plans to export 3,000 vehicles annually to Egypt as part of a broader strategy to rebalance trade between the two countries, which recently showed significant disparities between exports and imports.

He highlighted that Egyptian investments in Morocco exceed $700 million, including a major project led by businessman Samih Sawiris to develop an integrated tourist city on Morocco’s coast, with expected investments of over $500 million over three to four years.

Abu Ismail described this as one of the largest Egyptian tourism projects in North Africa, projected to generate substantial employment and create a favorable investment environment that will open new avenues for bilateral cooperation.

He added that around 30 Egyptian companies plan to establish new factories in Morocco within the next three years, aiming to expand Egyptian investments in North Africa by leveraging Morocco’s strategic location near Europe and its free trade agreements that facilitate access to Western and African markets.

These companies operate in diverse sectors including food, manufacturing, nutritional supplements, auto parts, and fishing. Some are also exploring partnerships with Moroccan investors to reduce setup costs and streamline operations.