Tunisian parliament ratifies free trade accord with Morocco

The Tunisian parliament ratified on Tuesday the accord setting up a free trade area between Morocco and Tunisia.

The accord was concluded on the sidelines of the official visit Tunisia's President Zine El Abidine Ben Ali paid to Morocco last March 15-16.

The covenant provides for the suppression, with immediate effect, of all duties on some 2,000 non-agricultural products carrying below 10 % customs duty. The other custom duties will be gradually lowered from now up to year 2007.

The accord stipulates the postponement of negotiations on the dismantling of customs barriers for agricultural and agri-business products.

During the parliament plenary session that ratified the accord, the Tunisian minister of trade said the free trade area accord consecrates the two states' resolve to promote their economic complementarity and partnership.

He said Morocco is a major trade partner for Tunisia whose trade balance with this country is improving. He recalled in this regard that the coverage rate went up from 45% in 1995 to 78.7% in 1998.

Bilateral trade is in favor of Morocco with a total amount of $ 103 million in 1998 against 90 million in 1997.

Morocco and Tunisia are both bound to the European Union by separate association accords that provide, inter alia, for the creation of free exchange areas by year 2010.