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Turkey’s Trade Minister to visit Morocco to explore new business opportunities

Turkey’s Trade Minister to visit Morocco to explore new business opportunities

Turkish Trade Minister Ruhsar Pekcan will visit Morocco, Wednesday, alongside a Turkish business delegation to explore new business cooperation opportunities in the country, Anadolu Agency reports.

After visiting Nigeria on Monday and Tuesday, Pekcan will head to Rabat, where the Turkey-Morocco Free Trade Agreement’s joint committee is expected to hold a meeting.

While in Morocco, the Turkish minister will meet with Economy and Finance Minister Mohamed Benchaaboun, Moulay Hafid Elalamy, the industry, trade and digital economy minister and Abdelkader Amara, the equipment, transport, logistics and water minister.

According to the news agency, Morocco is one of the 17 countries mentioned in a September 2019 report on Turkey’s Export Master Plan on strengthening exports in machinery, automotive, electric and electronics, chemical and food.

Turkey’s exports to Morocco increased by 16% to reach $2.3billion in 2019 while imports from the North African Kingdom decreased by 3.5% to stand at $690 million.

Quoting the head of DEIK’s Turkey-Morocco Business Council Mehmet Buyukeski, Anadolu reported that Turkish businesses «have investments worth around $1 billion in Morocco and they employ 8,000 Moroccan people».

«Turkish firms active in sectors such as contraction, construction, fishery, automotive, retail trade, furniture, iron/steel, carpet, food and apparel in Morocco», he told Anadolu Agency.

For the record, Morocco and Turkey signed in 2004 a free trade agreement.