Turkish Business Leaders Explore Investment Opportunities in Morocco

The Turkish delegation, composed of about sixty businessmen, visited Morocco to deepen their knowledge of the Moroccan market and explore new cooperation opportunities. The ultimate goal is to strengthen trade cooperation and investments through the signing of win-win partnerships between the two countries.

During their stay, the Turkish business leaders held working sessions with their Moroccan counterparts and met with officials from certain ministerial departments to discuss economic issues. The discussions on these occasions mainly focused on the major investments that Turkish businessmen could make in the kingdom, in the perspective of the 2030 World Cup that it is co-organizing with Spain and Portugal.

Morocco and Turkey have signed a free trade agreement since 2006 to strengthen their trade ties. In 2021, Morocco requested the revision of this agreement after its trade deficit with Turkey widened to two billion dollars, compared to 440 million dollars in 2006. This revision came following numerous complaints from Moroccan professionals in the textile, clothing, leather, automotive, electrical, iron and wood sectors, whose products are subject to customs duties by Turkey.

Despite the revision of the agreement, Moroccan exporters are not out of the woods yet. They denounce the competitive advantage of the Turkish currency for exports, particularly for textiles and clothing, and also mention the many difficulties they face in marketing their products on the Turkish market.