Public Management

Morocco seeks to revise free trade treaty with Turkey

Morocco seeks to revise free trade treaty with Turkey
Wednesday, 12 February 2020 11:13

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

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Guinea issued a 1,500 billion GNF ($172.6 million) five-year bond with an annual interest rate of 11%. The government targets reduced reliance on...
Bank of Africa net income rose 12% to 3B dirhams by Sept. 2025 Growth driven by 17% rise in interest income, strong loan performance Credit cleanup,...
Egypt signs €53.8 million deal under the Green Sustainable Industries program Funding targets pollution cuts, energy savings, and resource...
Senegal, BOAD launch Fovas to monetize public infrastructure assets Fund aims to boost financing without IMF-recommended debt restructuring Eligible...
Most Read
01

Anthropic, Rwanda’s government, and ALX launched Chidi, an AI mentor built on Claude. It wi...

Anthropic Partners with Rwanda, ALX to Deploy Claude-Powered AI Learning Companion Across Africa
02

(MCB) - The Mauritius Commercial Bank Limited (“MCB”) has successfully granted a strategic financing...

MCB deploys strategic financing to Invictus Investment to scale up its agro-food operations in Africa
03

S&P upgrades Zambia to CCC+ as debt talks advance and copper output rebounds. About 94% of $...

S&P Raises Zambia’s Foreign-Currency Rating to CCC+
04

MTN Innovation Lab hosts Africa HealthTech Export 2025 Bootcamp in Cotonou Event targets s...

Africa HealthTech Bootcamp Opens in Benin With Focus on Regulation and Startup Growth
05

Attack risks internet disruptions; investigation launched near Massakory EU-funded project aims ...

Chad Reports Second Vandalism Attack on Key Internet Cable in Two Weeks
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.