Cairo: Minister of Investment and Foreign Trade Mohamed Farid Saleh said Egypt and Morocco move towards elevating bilateral relations to strategic investment partnerships based on shared interests.

According to State Information Service Egypt, Saleh made the remarks during his meeting on Monday with visiting Moroccan Minister Delegate for Investment, Convergence, and Public Policy Evaluation Karim Zidane. The investment minister emphasized the need for transitioning from traditional cooperation to partnerships rooted in integration. He noted ongoing intensive consultations to boost joint investments, promote investment opportunities, and explore mechanisms for collaboration between the sovereign wealth funds of both countries to maximize opportunities across Africa.

The discussions also included the possibility of linking the Egyptian and Moroccan stock exchanges and connecting clearing firms to enhance market efficiency and facilitate cross-border investment and trading. Joint workshops were also planned to market investment incentives and attract foreign investments.

The Moroccan minister, on his part, described Egypt as a key destination for investment and trade, stating that the two countries are major pillars in the region and Africa. Their cooperation is based on a ‘win-win’ approach that benefits both sides. He added that political support from the leadership of Egyptian President Abdel Fattah al-Sisi and Moroccan King Mohammed VI strengthens the potential to translate these ties into tangible economic projects.

The meeting further explored opportunities in the automotive sector, underscoring the importance of industrial integration, experience exchange, and coordination. This would support the presence of Egyptian and Moroccan companies in East and West African markets, contributing to fostering growth and adding value to both economies.