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
• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0....
Flutterwave gained a BCEAO license to operate in Senegal, expanding to 35 African countries. ...
In Africa, the private sector is widely seen as the main engine of industrialization and plays a cen...
President Paul Biya, 92, to seek eighth term in October 2025 election In power since 19...
• Interbank volumes rose 18.7% in May, while rates declined across the market• The BCEAO cut its mai...
Highlights: • Kobold Metals signed an agreement in principle with the DRC government on July 17, 2025.• The deal includes the Manono lithium project,...
Highlights: • Global cocoa processing down across all major regions in Q2 2025• ECA: Europe’s grindings at lowest since 2020, Asia at lowest since...
Highlights: • Egypt targets 42% renewable energy share by 2030.• POWERCHINA to build 130-km high-voltage line signed on June 25.• National grid expansion...
Highlights: • EXIM Bank issues letter of intent for $150M to support Botswana's NexMetals• US eyes battery-grade nickel sulphates and cobalt from...
Ashenda is a vibrant traditional festival celebrated primarily in northern Ethiopia, particularly among the Tigray and Amhara communities, as well as in...
The Emerald Sea is a vast turquoise lagoon located in the northern part of Madagascar, just a few kilometers from the town of Antsiranana (formerly Diego...