Turkey has agreed to review the free trade deal it has with Morocco, Moulay Hafid Elalamy (pictured), the Moroccan Trade Minister announced on February 10.
Signed in 2004, the deal aimed at giving Moroccan companies duty-free customs access to the Turkish market and in return, Turkish goods will benefit from a gradual reduction in customs duties on the Moroccan market. The agreement covered textiles, steel, and household appliances.
However, Morocco was struggling to achieve the objective due to red tape, and laws hampering the entry of Moroccan products into the Turkish market. In 2018, the African nation recorded a trade deficit of MAD18 billion (about $ 1.8 billion) in its trade relations with Turkey. The textile sector has suffered a heavy loss with the number of job losses growing from 19,000 in 2014 to 44,000 in 2017.
Morocco thus took a series of defensive trade measures, one of which (concerning hot-rolled steel imported from Turkey) was submitted before the World Trade Organization (WTO) in August 2018. Talks for trade deal revisions were engaged on January 15, 2020.
André Chadrak
Flutterwave secures Nigerian banking license to offer credit and savings License enables direct d...
BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, i...
EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...
This week, Africa’s health outlook is shaped by mounting supply chain risks tied to global tensions,...
West African Development Bank allocates $131.8 million to support cotton sectors in Burkina F...
Africa counts more than 1,000 tech hubs in 2024, up from fewer than 600 in 2019 Leading ecosystems in Kenya, Nigeria and Rwanda attract capital and...
Meridian Port Services receives 16 electric RTG cranes for Tema Port expansion; $1.5 billion upgrade aims to raise capacity to 3 million TEUs...
150 Liberian content creators to attend monetization training on May 6–7, 2026, at the Bella Casa Hotel in Monrovia. Platforms involved: Meta...
WAF payments to the state rise to $398 million in 2025, more than double year-on-year Revenue climbs to $1.5 billion, driven by higher...
Sungbo Eredo, located in southwestern Nigeria near the Yoruba town of Ijebu-Ode, stands as one of the most remarkable yet overlooked monuments of...
“Dodji, l’Archet Vodoun” is a documentary about reconnecting with ancestral culture to understand one’s origins, following an initiation ceremony that...