Morocco, Turkey pledge to rebalance trade ties

Morocco and Turkey have reaffirmed their commitment to strengthening economic ties by addressing long-standing concerns over trade imbalances.

During the sixth session of the Joint Commission on the Free Trade Agreement (FTA),held in Ankara,both nations agreed to recalibrate their commercial relationship to ensure greater equity and mutual benefit,the two parties said in a statement.

The meeting was co-chaired by Omar Hejira,Morocco’s Secretary of State for Foreign Trade,and Mustafa Tuzcu,Turkey’s Deputy Minister of Trade.

Discussions centered on the need to correct the growing trade deficit that has disproportionately favored Turkey in recent years. Both sides acknowledged that while trade volumes have grown,the benefits have not been evenly distributed,prompting a renewed focus on fairness and reciprocity.

Trade between the two parties nears 5 billion dollars,with a deficit of about 3 billion dollars in Turkey’s favor.

Morocco and Turkey agreed to organize a high-level investment and business forum within the next year,aimed at fostering new commercial partnerships and investment opportunities.

The two countries also committed to improving market access for Moroccan agricultural products in Turkey,a move expected to diversify trade flows and reduce the current imbalance. Additionally,they pledged to enhance cooperation in promoting their respective goods on international markets,including through joint ventures and co-production initiatives in strategic sectors.

To facilitate smoother trade operations,a direct communication channel will be established between the Moroccan and Turkish trade ministries. This mechanism is intended to resolve administrative bottlenecks and improve the overall efficiency of bilateral exchanges. Sector-specific business meetings will also be organized to connect Moroccan and Turkish entrepreneurs and explore opportunities in engineering,infrastructure,and consulting services.

The session concluded with a strong message of partnership and a shared vision for a more equitable and dynamic economic relationship. Both governments expressed confidence that these measures would lay the groundwork for a new era of cooperation rooted in mutual respect and shared prosperity.