Morocco is reportedly seeking a re-negotiation of its free trade agreement with Turkey as it seeks more Turkish investments to compensate for an expanding trade deficit, minister delegate in charge of foreign trade Omar Hjira said.
The trade deficit with Turkey soared to 3 billion dollars, driven by fabric imports by Morocco’s textile sector.
The deficit is the third largest after the imbalance reported with the US and China, two countries that invest significantly in Morocco.
Reuters cited two sources saying the minister will visit Turkey soon to discuss the deficit and urge investments.
In 2020, Morocco and Turkey agreed to review the free trade deal imposing a 90% tariff on Turkish textile to protect Moroccan manufacturers.
