Moroccan Trade and Industry Minister Riad Mazour said on Monday that his country’s exports to Turkey have risen 30 percent since the free trade agreement between the two countries came into force in 2009.
This came in the Moroccan minister’s response to questions about the outcome of free trade agreements during a plenary session of the House of Representatives (the first chamber of parliament).
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“One of the results of the free trade agreements is the rise in foreign investments from 67 billion dirhams (7.26 billion dollars) in the period 1990-2000 to 350 billion (37.9 billion dollars) in the 2011-2021 period,” Mazur said.
He pointed out that the country’s exports rose by 30 percent with Turkey, and 16 percent with the United States of America.
The value of Moroccan imports from Turkey amounted to $2.3 billion in 2019, an increase of 16 percent compared to 2018, according to data from the Moroccan Ministry of Trade.
In contrast, the value of Morocco’s exports to Turkey during 2019 amounted to about 700 million dollars.
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Mazur explained that his country’s exports rose 13 percent within the framework of the agreement to facilitate and develop trade exchange with member states of the League of the Arab States and 12 percent with the UAE.
On February 10, the Moroccan House of Representatives approved the amendment of the Free Trade Agreement with Turkey.
Morocco and Turkey agreed to amend the agreement on August 24, 2020, and the Moroccan government ratified the amendment in October of the same year.
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Turkish businessmen have investments in Morocco worth $1 billion, providing about 8,000 job opportunities.
