Arab Republic of Egypt Ministry of Investment and Foreign Trade General Organization for Export and Import Control

At the beginning of his speech in the inauguration of the Egyptian-Moroccan Investment and Trade Forum, Eng. Hassan El Khatib, Minister of Investment and Foreign Trade, extended his thanking and appreciation to Mr. Omar Hajira, Minister of Foreign Trade of the Kingdom of Morocco and his accompanying delegation for accepting the invitation to visit Arab Republic of Egypt in the light of efforts to consolidate joint relations between the two countries. He expressed his hope that the visit would achieve further cooperation in all fields and open new horizons, either at the bilateral and regional levels in such way that achieves the utmost benefit for both sides.

El Khatib added that this forum targets creating certain channels for continuous and constructive communication between the two brotherly countries, emphasizing the enormous importance of these meetings considered as a pivotal mechanism for assessing and developing trade exchanges, particularly the Moroccan exports to Egypt, as current figures do not reflect the potentials and capabilities available to the Moroccan side in light of the opportunities available in the Egyptian market.

The Minister said that the preferential trade agreements between the two countries, including Agreement on Facilitating and Developing Inter-Arab Trade and its Executive Program for founding the Greater Arab Free Trade Area (GAFTA), Agadir Agreement, and African Continental Free Trade Area (AfCFTA), all help motivate the economic growth and expand access to the foreign markets. These joint agreements reflect the two countries' commitment to develop the economic relations. He expressed his hope that these agreements help facilitate the trade and expand new markets for national products by taking advantage of the accumulation of rules of origin between the two countries, through trade and investment partnerships and establishment of joint ventures between the two sides in various economic fields.

El Khatib called on businessmen from both countries to exchange ideas and propose joint cooperation projects to enhance the economic relations for the benefit of both sides.

The Minister emphasized the depth of the relations between Egypt and Morocco, spanning several centuries and based on the profound understanding between the two brotherly countries. These deep relations reflect the appreciation that the Egyptian political leadership and people extend to their Moroccan counterparts, which places the responsibility of developing economic and trade relations on both governments. He expressed his wishes for further success, progress, prosperity, and growth for the political leadership and people of Morocco.

The Minister pointed out that the Egyptian government exerts strenuous efforts to remove all obstacles affecting trade and investment, including measures to reduce the time and cost of releasing goods from the customs ports for improving the economic performance, developing production structures, and providing a favorable climate for both international trade and investment, to serve foreign investors and encourage investment. He expressed his hope that these serious efforts will have a positive and encouraging impact on Moroccan companies.

The Minister confirmed the importance of working to overcome all obstacles facing exporters and importers in both countries and benefiting from the agreements concluded between the two countries. He pointed out the importance of solidarity to overcome the challenges facing the two countries in light of geopolitical changes and the health challenges represented by the Coronavirus, which had negative effects on the economy. This requires creating stronger industrial, commercial and investment cooperation with the aim of increasing and strengthening the economic partnership between the Arab Republic of Egypt and the Kingdom of Morocco, in a way that contributes to fulfilling the aspirations of the two brotherly peoples and achieving sustainable development in various areas of common interest between the two countries.

Hassan El Khatib called on businessmen from both sides to coordinate with each other, so that this meeting could serve as a nucleus for a new phase of joint cooperation. He emphasized the government's commitment to removing any obstacles that might affect the flow of Moroccan exports to Egypt.

On his part, Mr. Omar Hajira, Moroccan Minister of Foreign Trade, emphasized that relations between the Kingdom of Morocco and the Arab Republic of Egypt are deeply rooted in history and are based on a strong legal framework that includes a free trade agreement and the Greater Arab Free Trade Area Agreement, providing a launching pad towards a promising regional partnership encompassing the Arab world and Africa.

Hajira stressed the existence of a strong political will to increase the Moroccan exports to Egypt through practical measures that have already been implemented, including facilitating the registration and certification of Moroccan products and allocating a "fast track" for Moroccan goods in the Egyptian market.

Hajira explained that the Moroccan delegation's visit to Cairo carries a clear message that Morocco is serious in building integrated economic partnerships with Egypt, emphasizing that integration is the best way to address the challenges of global trade and build a competitive regional economy able to achieve development and create job opportunities.

On his part, Mr. Ahmed El-Wakil, Chairman of the Federation of Egyptian Chambers of Commerce, said the forum represents a real opportunity to create jobs for young people by promoting joint manufacturing and moving toward tripartite cooperation with neighboring countries, in addition to seeking to establish new shipping lines between the two countries.

El-Wakil highlighted the importance of using Egypt and Morocco as logistic hubs to access markets in Africa, Europe, and Asia, leveraging free trade agreements and supporting programs provided by the European Union. He called for enhancing products exchange and increasing Egyptian exports to the Moroccan market.

At the conclusion of the forum, participants emphasized the importance of activating political will and transforming it into tangible investment projects that contribute to building a joint economic future that serves the peoples of the two brotherly countries.