Morocco and Turkey Revise Free Trade Agreement Amid $1.2 Billion Deficit
By agreeing to revise the contract clauses, Turkey has officially adhered to the amendments made by Morocco to the free trade agreement that binds the two countries.
The Minister of Industry, Trade and Green Economy, Moulay Hafid El Alamy, announced this on Monday, February 10, during the weekly parliamentary questions, specifying that the free trade agreement has recorded a deficit of $1.2 billion.
On the commercial level, the main problem between Morocco and Turkey revolves around the textile sector, it being understood that the job losses recorded between 2014 and 2017 have shown an upward trend, from 19,000 to 44,000 positions.
The Ministry of Industry, Trade and Green Economy, having taken the measure of the risks incurred by the labor market, had decided in 2017 to put an end to imports of Turkish textiles.
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