Morocco drums up interest from Egyptian companies: A number of Egyptian companies are looking to develop four industrial projects across several industries in Morocco, including oil and gas, industrial zones, and food and beverages, with investments of up to USD 200 mn by 2025, head of the Egyptian-Moroccan Business Council Nizar Abu Ismail told Asharq Business. The council is expected to ink agreements on two or three projects during 1Q 2025, and is currently selecting the Egyptian firms for the projects with Moroccan private or state-owned counterparts, Abu Ismail added.

Trade in mind: The new projects are expected to bolster exports to West African markets on the back of Morocco's trade agreements with several countries in the region, Abu Ismail noted. The volume of trade between Morocco and Egypt amounts to USD 1.3 bn annually, with Egypt exporting nearly USD 819.4 mn during 2023, including exports of iron, ceramics, agricultural crops, and electrical equipment and devices. Morocco’s exports to Egypt in 2022 — which amounted to USD 66.7 mn — included car, coffee, tea extracts, and processed fish.

Boosting investments: Morocco currently has 295 firms operating in Egypt with investments worth nearly USD 230 mn, according to data seen by Asharq Business. Morocco — which ranked as the seventh biggest Arab investor in Egypt in 2022 — invested nearly USD 17 mn in the country at the end of 3Q FY 2021-2022, Morocco World News reported. In 2018, Morocco was ranked as the 40th largest foreign investor in Egypt, with investments totalling USD 80 mn.

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