Free Trade Agreements: Morocco’s Exports Significantly Increase in Quantity and Quality (Govt. Chief)

11

Under the free trade agreements, Moroccan exports have considerably increased in terms of quality and technological content, which has had a positive impact on their competitive capacity, said, Tuesday in Rabat, Head of government, Saâd Eddine El Othmani.

In reply to a central question on “free trade agreements and their impact on the trade balance and competitiveness of small and medium-sized enterprises”, presented at the monthly session of the House of Advisors on the general policy, El Othmani said that these performances are due to the improvement of Morocco’s share on the world market (from 0.11 in 2007 to 0.15 in 2017).

He also highlighted the positive development of the technological content of Moroccan exports, noting that the diversification of the Kingdom’s economic partners has made it possible to increase the rate of exports, which has over the past ten years reached significant growth rates of 6.10 pc under the free trade agreements with the European Union (EU), 16.4 pc with the United States, 30 pc with Turkey and 16 pc under the Agadir agreement.

In this regard, El Othmani noted that the balance of trade with the EU reached 414 billion dirhams in 2017, compared to 229 billion dirhams in 2007.

He added that Morocco’s trade with the United States dramatically increased, from 18.4 billion dirhams in 2007 to 39.7 billion dirhams in 2017 (5.8 pc of Morocco’s total foreign trade).

Ten years after the entry into force of the free trade agreement with Turkey, the volume of trade between the two countries reached 26.1 billion dirhams in 2017, against 6.9 billion dirhams in 2007.

El Othmani stressed that these agreements have contributed to accelerating the pace of reforms undertaken by the Kingdom on several levels, notably by modernizing the legislative and regulatory framework for foreign trade, simplifying procedures, improving the business climate and the competitive capacity of domestic enterprises, as well as promoting foreign investment.

On this occasion, the head of government reviewed the measures taken to avoid the impacts of free trade agreements on the economic and entrepreneurial fabric as well as on the national product, enhance the performance of the national economy and improve access of Moroccan products to the markets of trading partners.

Article19.ma

Leave A Reply

Your email address will not be published.