Morocco Revisits Free Trade Agreement with Turkey to Reduce Trade Deficit
Morocco is preparing to launch a new round of negotiations with Turkey to review the free trade agreement between the two countries, which has been in place since 2006, amid a persistent large trade deficit favoring Ankara.
According to Reuters, a Moroccan government delegation, led by the Secretary of State for Foreign Trade, Omar Hajira, is expected to travel to Turkey today, Monday, to hold a series of meetings with Turkish officials to explore ways to address this growing trade imbalance.
The Moroccan trade deficit with Turkey increased by 12 percent last year, reaching 27.6 billion dirhams, despite amendments made to the agreement in 2021, which imposed tariffs of up to 90 percent on certain Turkish products, particularly in the textile and clothing sectors, in response to complaints from local producers about dumping.
The new negotiations are expected to focus on evaluating the effectiveness of these temporary measures and proposing possible alternatives, including encouraging direct Turkish investments in Morocco to support local production and alleviate pressure on the trade balance, as reported by sources from Eastern Economy.
According to the Office of Foreign Exchange, the total trade volume between the two countries last year was approximately 50.8 billion dirhams, with 39.2 billion dirhams in imports from Turkey, compared to only 11.6 billion dirhams in Moroccan exports.
This initiative is part of a broader strategy adopted by Rabat to stabilize its trade balance and stimulate exports. In May, the government launched the “Foreign Trade Roadmap 2025-2027,” aiming to increase Moroccan exports by approximately 84 billion dirhams and establish 400 new exporting companies annually. The plan includes a focus on promising new markets, particularly in the African continent, alongside enhancing the competitiveness of high-value-added sectors.
