EU and Morocco begin trade talks
Trade representatives from the European Union and Morocco have begun talks to upgrade a trade agreement, the European Commission said Monday.
The agreement allows for tariff-free trade for many products.
Negotiators are meeting in Morocco's capital, Rabat, to
deepen existing trade relations in a host of areas not yet covered by the existing agreement, the commission said.
The goal is to establish a
deep and comprehensive free-trade area that makes trade simpler, protects intellectual property rights, allows for fair competition and upholds environmental and social standards, the commission said.
The EU is Morocco's largest trading partner, accounting for about 50 percent of its international business. Trade in goods between the two reached $33.8 billion in 2012. Trade in services was valued for the year at $9.1 billion.
The European Commission said it has a
green light to seek similar free-trade agreements with Egypt, Jordan and Tunisia.
- What's its secret? Kuwait sustains non-oil growth for two years
- The reliable consumer: China on track to become biggest export market for GCC by 2020
- After the GCC 'happy' summit, is a customs union closer to reality?
- A bleak record: Turkey comes second in OECD income inequality list
- ًA safe bet? Why the ME's businessmen are chasing after St.Kitts and Nevis' citizenship