Morocco is planning to review its trade agreement with Türkiye and seek increased investment to help counter a growing trade deficit, largely fueled by imports of Turkish fabrics, according to two sources familiar with the matter.
Omar Hjira, the Moroccan Cabinet member in charge of trade, will soon visit Türkiye – Morocco's sixth-biggest trading partner – to discuss measures aimed at mitigating the $3 billion deficit, the sources, who attended a meeting with Hjira, told Reuters on Tuesday.
They asked not to be named due to the sensitivity of the matter.
Morocco's Trade and Industry Ministry did not immediately respond to a request for comment.
Initially signed in 2004, Morocco and Türkiye introduced amendments to their free trade deal five years ago, including a 90% tariff on Turkish textile and clothing imports to protect Moroccan manufacturers and jobs.
Moroccan companies still import large volumes of Turkish fabric, however, to meet the needs of the country's apparel sector.
Morocco's overall trade deficit widened 22.8% to 109 billion dirhams ($12 billion) in the first four months this year, according to official data.
The deficit expanded by 7% to 306 billion dirhams last year, and Morocco's deficit with Türkiye was its third-largest after the U.S. and China.
