Morocco and Turkey have agreed to readjust their economic partnership, with a focus on rebalancing their trade relationship.
This development emerged from the 6th session of the Joint Commission held Monday in Ankara, signaling a shift in Morocco’s pragmatic approach to managing its free trade agreements.
The meeting, co-chaired by Omar Hejira, Morocco’s Secretary of State for Foreign Trade, and Mustafa Tuzcu, Turkish Deputy Minister of Trade, saw both nations express a shared commitment to rectify imbalances within their existing Free Trade Agreement (FTA), particularly addressing the unfavorable trade balance for Morocco.
To achieve this, several key measures were agreed upon. These include establishing a direct communication channel between the relevant ministries and organizing a Moroccan-Turkish Investment and Business Forum later this year.
Furthermore, Rabat and Ankara have committed to facilitating access for Moroccan agricultural products to the Turkish market and promoting industrial co-production projects with international reach. Strengthening exchanges between economic operators through targeted sectoral meetings is also a priority. The discussions also identified new avenues for cooperation in the engineering, infrastructure, and consulting sectors, with the aim of developing joint projects that offer high added value.
SL/ac/fss/abj/APA