Turkish companies in Morocco posted sales of $1.3 billion

Turkish companies, which are strongly present in Morocco, have posted sales of USD 1.3 billion, said Moroccan premier Driss Jettou.

Moroccan-Turkish relations have made important strides in the two latest years, he said in a statement to Al-Alam newspaper, noting that Morocco's imports from Turkey increased by 80pc, while exports rose by 30pc.

On Thursday, Turkish Industry and Trade Minister, Ali Coskun, urged Moroccan and Turkish businessmen to further work for the promotion of investments and economic cooperation between the two countries.

Coskun, who is accompanying visiting Turkish Prime minister to a two-day visit to Morocco, said at a meeting of the Moroccan-Turkish Business Council his country is resolved to develop cooperation with Rabat, underscoring the role businessmen should play in this process.

Exchanges between the two countries between 1999 and 2004 increased from USD 159 million to USD 451 million.

The two countries signed a free-trade agreement on April 7.

The accord, ratified by the Moroccan parliament last January, provides for the creation of a free trade zone in industry after a 10-year transition period and the lifting of all customs tariffs for Moroccan industrial products, while Turkish products would benefit from a gradual exemption of duties.