Morocco Plans To Export 13,000 Cars To Egypt
Several major car manufacturers operate in Morocco, including Renault and Stellantis (Peugeot, Citroën, Opel). Renault has two major plants in Tangier and Casablanca. Stellantis opened a factory in Kenitra. These companies produce vehicles for export, primarily to Europe and Africa, making Morocco a key automotive hub in Africa.
In a significant move to tackle the trade imbalance between Egypt and Morocco, the Moroccan government has set an ambitious target to export 13,000 cars to the Egyptian market over the next two years. This agreement, aimed at enhancing bilateral trade relations, was announced by Omar Hujaira, Morocco's Chargé d'Affaires in Egypt, during the Egyptian-Moroccan Investment and Trade Forum held in Cairo.
Hujaira detailed that the initial phase of this export plan will see Moroccan car exports to Egypt increase to 5,000 vehicles by the end of 2025, rising further to 8,000 by 2026. This marks a significant increase from the current export figure of approximately 3,000 cars annually. "An agreement has been reached with Egyptian officials to increase Moroccan car exports to 5,000 cars by the end of the current year, and to 8,000 cars in 2026," Hujaira stated, emphasizing the importance of this initiative in addressing the trade balance deficit.
Hujaira also highlighted Morocco's intention to diversify its exports to Egypt beyond automobiles. He noted that the country is looking to broaden its export portfolio by introducing other products manufactured in Morocco, rather than solely focusing on car exports. This strategic shift could provide a more balanced and sustainable trade relationship between the two countries.
The final statement from the investment forum underscored the agreement to eliminate obstacles affecting trade exchanges and promote private sector collaboration between Egypt and Morocco. It also called for the establishment of a joint committee comprising representatives from both public and private sectors to address and remove barriers hindering trade flows.
This initiative comes at a time when both nations are keen on strengthening their economic ties and enhancing mutual cooperation. As Egypt continues to develop its automotive industry, the influx of Moroccan cars could provide a boost to local markets and foster competitive pricing