Moroccan and Senegalese preferential trade agreement to be finalized

Moroccan and Senegalese experts are to convene a meeting in Rabat next December to finalize a preferential trade agreement.

The agreement will update a juridical frame of trade exchanges between the two countries, that dates back to 1963.

The two countries equally decided to set a Moroccan-Senegalese development agency and to reactivate the cooperation accords already existing between the Moroccan and the Senegalese centers for exports promotion, CMPE and CICES and between the two countries' offices for industrial development, ODI and SONEP, in a bid to promote contacts and partnership between businessmen.

Trade exchanges between Senegal and Morocco did not exceed 124.50 million dirhams (USD 1 = 9.2 DH) in 1997.

Morocco's imports from Senegal (20 million DH) were made up of cotton and raw skins, while exports (104.50 million DH) consisted of citrus fruits, canned food, garments, shoes and equipment goods.