Egypt and Morocco: A Bond Rooted in History
Mustafa Madbouli, the Prime Minister of Egypt, emphasized the significance of the inaugural session of the Egyptian-Moroccan Joint Coordination and Follow-Up Committee, which epitomizes a mutual political will aimed at elevating bilateral relations to new heights. During his speech, he highlighted the commitment of both nations' leadership to deepen cooperation in economic and developmental sectors. This initiative represents a strategic step towards enhancing the long-standing ties between the two countries, which are founded on historical foundations and mutual trust.
In his address, Madbouli, alongside his Moroccan counterpart Aziz Akhannouch and several ministers from both governments, acknowledged the profound historical connections shared between the peoples and political leadership of Egypt and Morocco. He noted that since the establishment of diplomatic relations in 1957, both nations have enjoyed a significant degree of understanding and continuous coordination across various national, regional, and international issues. These efforts have facilitated the utilization of international relations to bolster internal stability and development, as well as to embrace the global community for shared experiences while adhering to a balanced foreign policy that respects international law and promotes mutual respect among nations.
Building a Strategic Partnership
Madbouli praised Morocco's supportive stance during Egypt's pivotal moments, particularly regarding the events of June 30, 2013, which were crucial in shaping the nation’s democratic trajectory and combating terrorism and extremism. He highlighted the establishment of the Egypt-Morocco Friendship and Cooperation Association in 2017, aimed at promoting bilateral ties and encouraging collaboration across various sectors, including economic exchange, cultural interactions, and other areas of mutual interest.
The Egyptian Prime Minister pointed out that the enduring popular connections and shared interests between the two countries create a fertile ground for a strategic partnership that is increasingly necessary in light of evolving regional and international dynamics. He underscored the importance of fostering cooperation to restore stability in the region and enhance economic relations, leveraging their distinct geographic positions and economic advantages to facilitate integration.
Furthermore, he remarked on the exceptional timing of the Moroccan delegation's visit to Egypt, which included the signing of several agreements and memoranda of understanding. This visit is particularly significant given the current geopolitical climate marked by uncertainty and rising tensions, which directly impact trade, supply chains, and investment flows. In response to these challenges, fostering close cooperation between brotherly nations is not merely a strategic necessity but a vital option for transforming crises into opportunities for greater integration and resilience.
Madbouli affirmed that the expansion of cooperation between Egypt and Morocco reflects a shared recognition of the necessity for coordinated policies and integrated efforts to tackle contemporary challenges. This collaboration enhances both countries' capabilities to safeguard their economic achievements and vital interests while opening new avenues for joint growth. He reiterated that regional cooperation, when rooted in genuine partnerships, can provide successful models for addressing crises and building a more stable and prosperous future for their peoples.
He also noted that the diverse agreements and memoranda signed during this occasion represent a qualitative leap in bilateral cooperation, laying the groundwork for a new phase characterized by economic integration and mutual benefits. These agreements span various critical sectors, including investment collaboration and facilitating capital movement through the connection of financial institutions and markets in both countries. They also include a pivotal agreement to avoid double taxation, which aims to encourage joint investments and create a more stable and transparent business environment, ultimately contributing to tax equity and leveling the playing field for investors.
Madbouli highlighted that these agreements align with Egypt's governmental efforts to cultivate a business environment that incentivizes investments and attracts both local and foreign private sectors to play a more significant role in economic activities, thus driving growth and expanding export capabilities. He concluded by emphasizing that the agreements related to customs cooperation, financial market integration, and partnerships between investment institutions clearly indicate a commitment to simplifying trade and capital movement, establishing a more interconnected financial and investment landscape that can significantly enhance trade volume and capitalize on the vast economic potentials of both Egypt and Morocco.
Finally, he pointed out that the signed agreements in the fields of culture, youth, sports, and tourism reaffirm that Egyptian-Moroccan relations extend beyond mere economic interests and delve into their rich cultural and humanitarian depths, further enhancing the communication between the two brotherly peoples.
As reported by hespress.com.
