Moroccan-European free exchange accord enters into force

The free exchange accord concluded in June 1997 between Morocco and the European Free Exchange Commission (EFEC) enters into force this Wednesday.

The accord will be enforced following its ratification by the two sides, the Moroccan foreign affairs and cooperation department said in a release.

The EFEC, incepted in 1960, musters Switzerland, Norway, Iceland and Liechtenstein. The group forms a customs union.

The accord seeks to promote a harmonious development of economic relations between the EFEC countries and Morocco.