Bangladesh has just signed its first preferential trade agreement… Elalamy said that a comprehensive study of all Morocco`s free trade agreements was in deficit in trade with three main partners, namely Europe, the United States and Turkey. The new text aims to impose tariffs for a period of five years for certain Turkish industrial products listed in the agreement. The objective of the measure is “to reach 90% of the value of the products of the most favoured nation.” The agreement also provides that the Moroccan side will not impose further tariffs on imports of Turkish origin, with the exception of Articles 18 and 19 of the free trade agreement between the two countries. In this context, the Moroccan Minister of Industry, Trade and the Green and Digital Economy pledged to protect the Moroccan economy and employment opportunities in the country from the flooding of Turkish textiles through the window of the debacle agreement between Morocco and Turkey, and said that this will never be allowed. He stressed, however, that the deficit caused by the free trade agreement between Morocco and Turkey was due to a lack of Turkish investment in Morocco. Morocco has managed to convince Turkey to review a list of Moroccan complaints about a free trade agreement between the countries, the trade minister said late on Monday. Industry Minister Moulay Hafid Elalamy said last year that the free trade agreement with Turkey had resulted in a $1.2 billion deficit for Morocco. Yaouhi pointed out that free trade agreements with a group of countries or business associations, including Turkey, have suffered heavy losses due to the lack of competition in the national economy and the dependence of Moroccan companies on the ISO protectionist roof, including tariffs, import licences and a range of protectionist measures. The adoption of the law on the free trade agreement between Morocco and Turkey comes a week after the Governing Council approved an amendment to the free trade agreement between the two countries. The agreement has caused controversy in Morocco.
The North African country`s trade balance with Turkey has been largely in deficit since 2006.