Trade Agreement Between Egypt And Morocco

In November 2008, the members of the Agadir Agreement signed a protocol on trade in textiles. Overall, however, the impact of the agreement, as seen by leaders and politicians, was “below expectations”. The two sides discussed ways to strengthen economic cooperation between Egypt and Morocco. The Agadir Agreement is a free trade agreement between Egypt, Jordan, Morocco and Tunisia. Named after the Moroccan city of Agadir, where the process of creating the pact was launched in May 2001, it was signed in Rabat in February 2004 and entered into force in March 2007. Egypt is the main beneficiary of trade relations and reached US$540 million in exports to Morocco in 2019. In 2016, after six years of inactivity, the agreement was relaunched. In April, Lebanon and Palestine joined the trade pact. Five protocols and two memoranda were also signed. Egypt is a signatory to several multilateral trade agreements: Al Tazy also called for the promotion of economic relations and the promotion of partnerships between the Moroccan and Egyptian private sectors in order to create promising investment opportunities in both countries.

The Moroccan ambassador expressed the country`s interest in improving economic relations with Egypt, given the deep-rooted historical and political ties between the two countries. Rabat – The volume of trade between Egypt and Morocco amounted to $681 million in 2019, continuing the steady increase of recent years. Morocco and Egypt are both signatories to the Agadir Agreement establishing a free trade area between the Arab Mediterranean countries, signed in Rabat, Morocco, on 25 February 2004. [2] The agreement aimed to establish a free trade area between Jordan, Tunisia, Egypt and Morocco and was seen as a possible first step towards the creation of the Euro-Mediterranean Free Trade Area, as provided for in the Barcelona Process. [3] They are also founding members of GAFTA, an Arab League pact to achieve a complete Arab economic bloc capable of competing internationally. . . .