Egypt, Morocco form action group to promote economic cooperation
Egyptian Trade and Industry Minister Tareq Qabil
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Egyptian Trade and Industry Minister Tareq Qabil said on Tuesday that Egypt and Morocco have agreed to form an action group to promote economic cooperation.
The agreement came after Qabil met with his Moroccan counterpart to discuss economic cooperation in several areas to boost integration between the two countries, the minister said in a statement.
The two countries will tackle challenges facing trade and seek means of enhancing cooperation, he said.
The talks were also about investment opportunities in Egypt, especially those in major national projects such as the Suez Canal development corridor.
Trade between Egypt and Morocco surged to 680 million U.S. dollars in 2016 from 475 million dollars in 2013.
Moroccan investments in Egypt, which amount to about 80 million dollars, cover a wide range of areas including cement, chemical industries, construction materials, weaving and textiles, tourism and communications.
Source: Xinhua
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