Egypt and Morocco Forge New Cooperation Agreements
On Monday, Egypt and Morocco took significant steps to bolster their bilateral relations by signing a comprehensive suite of agreements focused on industrial cooperation, investment, and the avoidance of double taxation. This pivotal ceremony, held in Cairo’s New Administrative Capital, was attended by Egyptian Prime Minister Mostafa Madbouly and Moroccan Prime Minister Aziz Akhannouch, marking the culmination of the inaugural session of the Egyptian-Moroccan Coordination and Follow-up Committee.
Among the key agreements was an industrial cooperation protocol, which was formalized by Egyptian Minister of Industry Khaled Hashem and his Moroccan counterpart, Minister of Industry and Trade Ryad Mezzour. This protocol aims to enhance industrial collaboration between the two nations, paving the way for mutual growth and development in the sector.
In the financial realm, the Egyptian Finance Minister Ahmed Kouchouk and Moroccan Economy and Finance Minister Nadia Fettah signed a crucial agreement to facilitate mutual administrative assistance in customs matters. Additionally, they ratified a treaty designed to prevent double taxation and thwart income tax evasion, which is expected to create a more favorable environment for cross-border investments.
Investment cooperation was further solidified through a memorandum of understanding (MoU) between Egypt’s General Authority for Investment and Free Zones and the Moroccan Agency for Investment and Export Development. This important document was signed by Egypt’s Minister of Investment and Foreign Trade, Mohamed Farid, and Karim Zidane, Morocco’s Minister Delegate in charge of Investment, Convergence and Evaluation of Public Policies.
Badr Abdelatty, Egypt’s Minister of Foreign Affairs and International Cooperation, along with Moroccan Foreign Minister Nasser Bourita, also signed several vital documents, including an MoU between Egypt’s Institute for Diplomatic Studies and the Moroccan Diplomatic Academy. Their efforts also ratified an MoU that encompasses housing and cooperation protocols in various sectors, including electricity, renewable energy, health, pharmaceuticals, and tourism, highlighting the multifaceted nature of this bilateral collaboration.
Furthermore, environmental and agricultural cooperation was emphasized through an MoU aimed at combating desertification. This agreement was signed by Egyptian Minister of Agriculture and Land Reclamation Alaa El-Din Farouk and Morocco’s Minister of Agriculture, Fisheries, Rural Development, Water and Forests, Ahmed El Bouari, showcasing a commitment to sustainable agricultural practices and environmental protection.
In the realms of social and cultural exchange, Egyptian Minister of Youth and Sports Gohar Nabil signed a sports cooperation agreement with Bourita, as well as a youth cooperation deal with Mohamed Mehdi Bensaid, Morocco’s Minister of Youth, Culture and Communication. Moreover, Egyptian Minister of Culture Jihan Zaki and Bensaid finalized an MoU and an executive program dedicated to cultural cooperation, reinforcing the importance of cultural ties between the two nations.
The signing ceremony concluded with Madbouly and Akhannouch endorsing the minutes of the first session of the Egyptian-Moroccan Coordination and Follow-up Committee, marking a significant milestone in the ongoing partnership between Egypt and Morocco.
As reported by dailynewsegypt.com.
