The Moroccan Government approved on Thursday an amendment of the Morocco-Turkey Free Trade Agreement, increasing tariffs by up to 90 pc on 1200 Turkish goods for a five-year period. The amendment falls under Bill No 54.20, which Morocco and Turkey signed on August 24 after the two countries reviewed their Free Trade Agreement. It aims to reduce $1.2 billion trade deficit with Turkey and fix trade imbalances. In January, Minister of Industry Moulay Hafid Elalamy said Morocco loses $2 billion annually through its trade deal with Turkey. However, the Turkish investments in Morocco represent less than one percent.

Source: The North Africa Journal October 09, 2020 01:29 UTC