Tech Newswire

Morocco To Re-Negotiate FTA with Turkey

Morocco’s Industry Minister Moulay Hafid Elalamy has once again raised concerns about the amount of textiles being imported from Turkey into Morocco, on the back of a free-trade agreement between the two nations.

 

He noted that Morocco’s textile sector had lost 44,000 jobs in 2017 and a high level of textile imports had significantly boosted Morocco’s already large trade deficit.

 

Mr. Elalamy and Turkish Minister of Trade Ruskar Pekcan have met to discuss the current FTA between the two nations and work towards a solution.

 

Initially, Morocco gave Turkey 15 days to find a solution. Turkey asked for an additional week which has already expired.

 

“If we don’t find a solution we will dissolve the agreement,” Mr. Elalamy told local media.

 

He said that Turkey is aware that a review for the agreement is necessary for it to be of  mutual benefit.

 

Mr. Elalamy also said that Morocco should put in force a mechanism that would make up for the losses in the textile industry. He said that Morocco imports more than 65 percent of textiles from abroad.

 

 

| Categories: Sourcing | Tags: FTAs, free-trade agreements | Return

 

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