Morocco plans to review its trade deal with Türkiye and seek more investment to offset a growing trade deficit, largely fueled by Turkish fabric imports.
Local sources said on Tuesday that Morocco’s cabinet member for trade, Omar Hjira, will soon visit Türkiye, Morocco’s sixth-largest trading partner, to discuss measures aimed at reducing the $3 billion deficit.
Morocco’s Ministry of Trade and Industry did not make a statement on the matter.
Morocco and Türkiye, first signed in 2004, introduced changes to their free trade agreement five years ago, including imposing a 90% tariff on Turkish textile and clothing imports to protect Moroccan manufacturers and jobs.
Moroccan companies still import large quantities of Turkish fabric to meet the needs of the country’s garment sector.
Morocco’s overall trade deficit rose 22.8% in the first four months of this year to 109 billion dirhams ($12 billion), official data showed.
The deficit increased by 7% last year to 306 billion dirhams, making Morocco’s deficit with Türkiye the third largest after the US and China.