Morocco and Turkey activate free trade zone projet
Morocco-Turkey, Economics, 2/16/1999

Morocco and Turkey on Monday voiced determination to activate the setting up of a free trade zone to spur trade exchanges and boost economic cooperation between the two countries.

The resolve was expressed at a meeting in Rabat between visiting Turkish under-secretary of state for foreign trade, Reyhan Atmaca, and Moroccan minister of trade, industry and handicraft, Alami Tazi.

To pave the way to the creation of this free trade area, Tazi stressed the need to implement the Moroccan-Turkish accords providing for non-double taxation and for the mutual protection and promotion of investments.

The accords, which were sealed lately between the two countries, are being considered by the Moroccan and Turkish parliaments for ratification.

The Moroccan and Turkish officials also deplored the small volume of trade exchanges between the two countries, which do not exceed $ 100 Million annually, while the volume of the two countries' foreign trade put together is worth $ 100 Billion.

The establishment of a free trade zone will allow Morocco to access the Central European market and will offer Turkey an outlet to African markets.

The Moroccan-Turkish business council will meet next April in Istanbul to give a new momentum to partnership between the two countries in all sectors.

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