Morocco, Turkey agree to review their Free Trade Agreement for more balanced trade

Morocco and Turkey agreed on Wednesday in Rabat to review the terms of their current Free Trade Agreement for a «more balanced, more important and good quality» trade, according to the joint statement issued at the end of a business meeting, initiated on the sidelines of the 5th session of the joint monitoring committee of the Morocco-Turkey Free Trade Agreement.

The two countries also agreed to immediately initiate work on agreed-upon topics during this meeting and to assess the progress made up to 30 January 2020.

At this session of the Moroccan-Turkish joint committee (14 and 15 January) co-chaired by minister of Industry, Trade and the Green and Digital Economy, Moulay Hafid Elalamy, and Turkish minister of Trade, Ruhsar Pekcan, the two sides also agreed to raise bilateral trade to a «more balanced level and encourage Turkish investors to invest in Morocco in the production industry as well as encourage Moroccan exports to Turkey».

Morocco and Turkey also expressed, on this occasion, their common will to strengthen their commercial and friendly relations «on a mutually beneficial basis of cooperation», according to this joint statement read to the press by Elalamy.

Organized by the ministry of Industry, Trade and Green and Digital Economy in partnership with the Moroccan Investment and Export Development Agency (AMDIE), the ministry of Trade of Turkey and the Foreign Economic Relations Board of Turkey (DEİK), this meeting was an opportunity for economic operators from both countries to examine ways and means to concretize bilateral economic cooperation.