Tunisia's adherence to Moroccan-Egyptian free trade area contemplated
Tunisia-Maghreb, Economics, 6/7/1999

The possibility of extending the Moroccan-Egyptian free trade area to Tunisia will be examined by the Moroccan-Egyptian business council to convene its second session in Rabat this week.

The announcement was made by the chairman of the Egyptian side to the council, Yamani Foulfoula.

Morocco and Egypt are both bound to Tunisia by separate accords setting up free trade areas.

Foulfoula said the council which will hold its second session on the fringes of the third session of the Moroccan-Egyptian high joint commission, convening in Rabat this June 8-9, will examine a number of joint projects, mainly the setting up of joint ventures in the realms of fisheries and tourism and the opening of centers that will endeavor to promote the marketing of Moroccan and Egyptian goods in either country and to foster contacts between the two countries' producers.

Relatedly, the Moroccan ambassador to Cairo, Abdellatif Mouline, told Egyptian radio "Sawt al-Arab" that the meeting of the Moroccan-Egyptian high joint commission, to be co-chaired by King Hassan II and President Hosni Mubarak, will give a new momentum to Arab cooperation.

He added that the creation of free trade areas between Arab countries at the bilateral level is a stride towards the setting up of a common Arab market. The accord setting up a free trade area between Morocco and Egypt that came into force last April 29 will give a new impetus to trade exchanges and will consolidate economic ties between the two countries and will push forward the project to set up a common Arab market, the Moroccan diplomat said.

The ratification instruments of the accord setting up the free trade area will be exchanged during the 3rd session of the joint commission. The accord provides for the suppression, with immediate effect, of all duties on some sixty Moroccan and Egyptian products. Custom duties of more than 25% will be gradually lowered by 5% per year.

Businessmen and economy experts are predicting a huge increase of trade exchanges from the current $30 million to more than $200 million before the end of the current year. These exchanges are expected to reach $300 million before the end of year 2000.

Previous Stories:
  Moroccan-Egyptian high joint commission meets in rabat in june   (5/27/1999)
  Starting the free trade agreements between Egypt and Morocco   (5/6/1999)

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