Morocco Plans to Export 3,000 Vehicles to Egypt Per Year

Morocco aims to export 3,000 vehicles yearly to the Egyptian market, according to Egypt-Morocco Business Council President Nizar Abu Ismail.

The initiative is part of a comprehensive plan to rebalance trade between the two countries, he said in an interview with Al Borsa News.

Speaking of the current trade situation between the two countries, Abu Ismail pointed out that Egyptian investments in the North African country now exceed $700 million.

Meanwhile, a potential major project led by an Egyptian businessman entails developing an integrated tourist city in one of Morocco’s coastal regions, according to the council’s president, adding that it could attract over $500 million in investments over the next three to four years.

“This tourism project is one of Egypt’s largest in North Africa,” Abu Ismail explained, saying that it will contribute to the creation of significant job opportunities, as well as “establish an attractive investment environment, opening new horizons for cooperation” between Morocco and Egypt.