· Morocco’s Minister of Industry and Trade Ryad Mezzour has revealed during a parliamentary session that Morocco- Egypt negotiations for a free trade deal have resulted in an agreement.
· Morocco has signed several free trade agreements with countries around the world.
· These he said have boosted economic growth and attracted foreign investments.
Morocco’s Minister of Industry and Trade Ryad Mezzour has revealed during a parliamentary session that Morocco- Egypt negotiations for a free trade deal have resulted in an agreement. Morocco has signed several free trade agreements with countries around the world. These he said have boosted economic growth and attracted foreign investments. Foreign investments in Morocco jumped to over MAD 350 billion ($38 billion) between 2011 and 2020, compared to MAD 249 billion ($27 billion) in the preceding decade.
Its FTA with Egypt also is expected to boost bilateral cooperation. For instance, Renault cars manufactured in Morocco will now be able to enter the Egyptian market without paying any custom fees. Certifying and ensuring that Moroccan factories and Moroccan goods meet various global standards will be the responsibility of the Moroccan Institute for Normalization (IMANOR).Egypt has also agreed to follow IMANOR’s standards he added.
Some of Morocco’s free trade agreements with other countries have turned controversial arousing resentment among the Moroccans. It was alleged that after its FTA agreement with Turkey, Turkish exports and companies hurt local Moroccan industries and markets. The initial agreement with Turkey was rectified and revised to suit the Moroccan business. The Moroccan Ministry of Industry and Trade is currently researching the effects of such agreements on the domestic economic landscape
