Morocco threatens to put an end to its free trade agreement with Turkey

On Monday, January 13, the Minister of Industry, Trade and Green and Digital Economy threatened to put an end to the free trade agreement signed with Turkey in 2004.

During a session at the House of Representatives, Moulay Hafid Elalamy explained that the Moroccan economy has been losing $2 billion every year since the signing of this agreement, adding that textile is the most affected sector by this treaty.

The minister stressed that Morocco will review 56 FTA’s, mainly the one signed with Turkey. He also said that he will be meeting his Turkish counterpart this week to discuss the agreement in question.

Indeed, Turkish Trade Minister Ruhsar Pekcan will visit Morocco, Wednesday, alongside a Turkish business delegation to explore new business cooperation opportunities.

After visiting Nigeria on Monday and Tuesday, Pekcan will head to Rabat, where the Turkey-Morocco Free Trade Agreement’s joint committee is expected to hold a meeting.

While in Morocco, the Turkish minister will meet with Elalamy, Economy and Finance Minister Mohamed Benchaaboun the industry and trade and digital economy minister and Abdelkader Amara, the equipment, transport, logistics and water minister.

For the record, Morocco is one of the 17 countries mentioned in a September 2019 report on Turkey’s Export Master Plan on strengthening exports in machinery, automotive, electric and electronics, chemical and food.

Turkey’s exports to Morocco increased by 16% to reach $2.3billion in 2019 while imports from the North African Kingdom decreased by 3.5% to stand at $690 million.