Moroccan and Tunisian economic operators resolve to increase trade

Moroccan and Tunisian economic operators expressed resolve to increase trade relations between the two countries.

Executives of the Moroccan and Tunisian employers' associations, CGEM and UTICA, said in a statement that they approved recommendations of the Moroccan-Tunisian business council held in Rabat this March 9. They described these recommendations as measures likely to help businessmen of the two countries overcome psychological obstacles and learn to live and handle ongoing liberalization in the two countries.

It was also agreed to promote the movement of capital, speed up the ratification of the non-double taxation agreement, and consolidate cooperation in the exchange of expertise and information on business opportunities in both countries.

The two associations said they have created to this end three commissions dealing with trade and services, cooperation and partnership and free trade.

The CGEM-UTICA meeting also reviewed the broadlines of the Moroccan-Tunisian free trade agreement signed during the Tunisian president's visit to Morocco this March 15-16.

The agreement, providing for the setting up a free-trade area, provides for the immediate suppression of all duties on some 2,000 non-agricultural products carrying below 10% of customs duties. The other customs duties will be gradually lowered from now up to year 2007.

With a total amount of $103 million, trade between the two countries is in favor of Morocco.