Morocco loses $ 2 billion annually, and the reason is Turkey


Source: Rabat – Adel Al-Zubayri

The government in Morocco has officially come out to complain publicly of the “terrible damage” that Turkey has caused against the Moroccan economy. In a precedent of its kind, Hafiz El Alami, Moroccan Minister of Industry, Trade and Green and Digital Economy, announced a “Moroccan financial loss” that amounted to two billion dollars annually in Rabat’s commercial relations with Ankara.

The Moroccan government official stated that he informed the Turkish officials: “Either we will reach solutions, or we will tear up this agreement,” referring to the free trade agreement between the two countries.

On the other hand, the Moroccan minister acknowledged that the free trade agreement with Turkey registered a 23% increase in Moroccan exports.

But at the same time, the Moroccan minister admitted that the trade balance deficit with Turkey is pushing Rabat to seek a way to reconsider Moroccan-Turkish trade relations.

The Moroccan government official acknowledged that his ministry is “fighting companies that want to dump Moroccan markets”, acknowledging that “there is a problem in the Moroccan textile sector”, because of Turkey.

The Moroccan Minister of Industry, Trade and the Green and Digital Economy accused Turkey of dumping the Moroccan market with clothes, causing the cancellation of job opportunities for Moroccans.

The Moroccan minister committed to “protecting the Moroccan economy, and the need to protect job opportunities in Morocco, in the face of dumping the Moroccan market with Turkish fabric, from the window of the free trade agreement between Morocco and Turkey,” saying “We will never allow this.”

Morocco has free exchange agreements with 56 countries.

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