Turkey has accepted to work together with Morocco towards a win-win free trade agreement after Morocco complained about job losses in the textile and retail sectors, trade and industry minister Moulay Hafid Elalamy said. Turkey agreed after a “heated debate” to review the trade agreement, which costs Morocco 1.2 billion dollars in trade deficit, he told MPs. The Moroccan minister deplored that Turkish investments in Morocco do not exceed 1% of total investment flow, adding that disagreements between Morocco and Turkey are of a “commercial” nature. Morocco exports 60 billion dirhams to Europe and received aid worth 1.4 billion euros between 2014 and 2020, he said. With the US, Morocco posted a trade deficit worth 20 billion dirhams with US investments in Morocco representing 6% of total FDIs in the country.

Source: The North Africa Journal February 11, 2020 12:33 UTC