Moroccan government pledges to boost car exports to Egypt
The Moroccan government has pledged to significantly boost its exports to Egypt in the coming months. «They are expected to rise from the current 755 million dirhams to 5 billion dirhams by 2027», said Omar Hjira, Secretary of State in charge of Foreign Trade, during an oral questions session at the House of Representatives on Monday, May 12.
Hjira also highlighted the growth of Moroccan car exports to the Egyptian market: «After exporting 400 vehicles per year, we are now at 3,000. We plan to reach 5,000 by the end of the year and 8,000 by 2026», he stated in response to a question from the RNI parliamentary group.
He recalled that Minister of Trade and Industry Ryad Mezzour recently led a major Moroccan economic mission to Egypt in early May. The delegation, which included ministry officials and around forty investors, aimed to evaluate the free trade agreement signed with Cairo in 2004 under the Agadir Agreement.
Hjira acknowledged that Moroccan exports to Egypt have declined in recent years, dropping from 2.6 billion dirhams in 2016 to just 755 million dirhams in 2024. In contrast, Egyptian exports to Morocco rose from 4 billion dirhams to 12.5 billion dirhams over the same period. This growing disparity has resulted in a significant trade deficit for Morocco.
The 2004 Agadir Agreement seeks to establish a free trade zone among Arab countries, bringing together Egypt, Jordan, Lebanon, Morocco, Palestine, and Tunisia.
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