Morocco to revise FTA with Turkey

Davida Erdahl

Pic: Shutterstock Turkey has agreed to overview its totally free trade arrangement (FTA) with Morocco, the latter’s trade minister Moulay Hafid Elalamy declared lately. Signed in 2004, the arrangement aimed at giving Moroccan providers obligation-totally free customs accessibility to the Turkish marketplace and in return, Turkish items would profit from […]

Pic: Shutterstock


Turkey has agreed to overview its totally free trade arrangement (FTA) with Morocco, the latter’s trade minister Moulay Hafid Elalamy declared lately. Signed in 2004, the arrangement aimed at giving Moroccan providers obligation-totally free customs accessibility to the Turkish marketplace and in return, Turkish items would profit from a gradual reduction in customs duties in the Moroccan marketplace.

The arrangement protected textiles, metal and residence appliances.

On the other hand, Morocco has been struggling to obtain the objective because of to red tape and laws hampering the entry of Moroccan solutions into the Turkish marketplace, in accordance to a news company report.

In 2018, Morocco recorded a trade deficit of MAD18 billion (about $1.8 billion) with Turkey. The textile sector has experienced a major decline with the number of occupation losses increasing from 19,000 in 2014 to forty four,000 in 2017.

Fibre2Fashion News Desk (DS)

Turkey has agreed to overview its totally free trade arrangement with Morocco, the latter’s trade minister Moulay Hafid Elalamy declared lately. Signed in 2004, the arrangement aimed at giving Moroccan providers obligation-totally free customs accessibility to the Turkish marketplace and in return, Turkish items would profit from a gradual reduction in customs duties in the Moroccan marketplace.

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