Moroccan, Egyptian businessmen explore partnership
Egypt-Morocco, Economics, 5/8/2003

Moroccan businessmen met in Casablanca Tuesday with Egyptian peers at the headquarters of the trade, industry and services chamber (CCIC)in Casablanca to explore economic and trade partnership opportunities.

The meeting would allow the two countries' businessmen to facilitate exchanges, remove obstacles affecting trade between Morocco and Egypt, and increase investment projects, said CCIC deputy-president, Mohamed Latifi.

The volume of trade exchanges between Morocco and Egypt went up from US $34 million in 1999, to US $59.2 million in 2000 to US $84.7 million in 2001.

Morocco's export to Egypt in 2001 included mainly fish flour and seafood, whereas imports consisted of iron, steel and paper.

The value of Egyptian investments in Morocco in 2001 were estimated at US $1.2 million, including US $800.000 in the tourist sector, US $300.000 in property and US $100.000 in the trade sector.

President of the Egyptian delegation, Hilmi Chait, said the meeting is held at a time when customs authorities started to enforce 80 per cent exemption on goods exchanged between the two countries part of the free trade agreement signed between Morocco and Tunisia in 1998.

The meeting coincides with the organization of a one-week fair of Egyptian products in Morocco by the Egyptian Editing and Printing House in collaboration with the international fair of Casablanca.

Over 100 Egyptian enterprises will participate in this 5000 m2 fair, particularly from the agro-industry, electricity, clothing and electrical appliance sectors.

The fair aims to promote Egyptian products in the Moroccan market and face competition of the European Union's products by benefiting from the advantages of the FTA concluded between Morocco and Egypt that was enforced in 1999.

Previous Stories:
  Egyptian trade fair to open in Casablanca   (5/6/2003)
  Morocco, Egypt to create joint fisheries firm   (4/4/2003)
  Moroccan-Egypt fisheries commission meets   (2/26/2003)

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