• Linkdin

Morocco to revise FTA with Turkey

15 Feb '20
1 min read
Pic: Shutterstock
Pic: Shutterstock

Turkey has agreed to review its free trade agreement (FTA) with Morocco, the latter’s trade minister Moulay Hafid Elalamy announced recently. Signed in 2004, the agreement aimed at giving Moroccan companies duty-free customs access to the Turkish market and in return, Turkish goods would benefit from a gradual reduction in customs duties in the Moroccan market.

The agreement covered textiles, steel and household appliances.

However, Morocco has been struggling to achieve the objective due to red tape and laws hampering the entry of Moroccan products into the Turkish market, according to a news agency report.

In 2018, Morocco recorded a trade deficit of MAD18 billion (about $1.8 billion) 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.

Fibre2Fashion News Desk (DS)

Leave your Comments

Esteemed Clients

Woolmark Services India Pvt. Ltd.
Weitmann & Konrad GmbH & Co. KG
VNU Exhibitions Asia
USTER
UBM China (Shanghai)
Tuyap Tum Fuarcilik Yapim A.S.
TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
X
Advanced Search