Morocco, Bulgaria project to sign free trade accord

Morocco and Bulgaria are projecting to sign a free trade accord, announced Moroccan Minister of Industry, Trade and Handicraft Alami Tazi, who is currently on a visit to Bulgaria.

The accord may be signed early next year, Tazi said during the dedication ceremony of the international fair of Vlovdiv, one of the major trade events in central Europe.

The two countries are also contemplating setting up a joint chamber of trade and industry.

The project was discussed at a meeting in Bulgaria between the Moroccan delegation and chairman of the Bulgarian chamber of commerce and industry.

Tazi's visit is meant to reactivate economic cooperation and diversify trade exchange and to explore means of involving the private sector in giving a boost to trade exchange.

In 1998, trade exchange between Morocco and Bulgaria amounted to nearly $26 million. Morocco's exports to the central European country are mainly made up of phosphates, lead and zinc while imports consist of wheat and glass.