Morocco Trade Agreements with EU: A Comprehensive Overview
Morocco has been involved in trade agreements with the European Union for over two decades. These agreements have been instrumental in improving the country`s trade relations with the EU, and have allowed it to expand its exports to the region. In this article, we will take a closer look at the Morocco trade agreements with the EU.
What are the main trade agreements between Morocco and the EU?
There are two main trade agreements between Morocco and the EU: the Association Agreement and the Free Trade Agreement.
The Association Agreement between the EU and Morocco was signed in 2000 and entered into force on March 1, 2000. The Agreement covers a wide range of areas, including political, economic, social, and cultural cooperation. Its primary objective is to establish a partnership between the EU and Morocco based on shared values and to promote peace, stability, and prosperity in the region.
Free Trade Agreement
The Free Trade Agreement between the EU and Morocco was signed in 1996 and was updated in 2013 to include new chapters on services, investment, and public procurement. The Agreement aims to liberalize trade between the EU and Morocco by removing trade barriers and creating a level playing field.
What are the benefits of the trade agreements?
The trade agreements between Morocco and the EU have many benefits, including:
1. Increased trade: The agreements have led to increased trade between Morocco and the EU. In 2019, the EU was Morocco`s largest trading partner, accounting for 58.4% of its total trade.
2. Market access: The agreements have provided Moroccan exporters with greater access to the EU market, which is one of the largest in the world.
3. Economic growth: The agreements have led to economic growth in Morocco, particularly in the areas of agriculture, textiles, and automotive industries.
4. Job creation: The increased trade and economic growth resulting from the agreements have led to job creation in Morocco.
What are the challenges facing the trade agreements?
Despite the benefits of the trade agreements, there are also challenges that need to be addressed. One of the main challenges is the issue of Western Sahara, which is disputed between Morocco and the Polisario Front. The inclusion of Western Sahara in the trade agreements has been a source of controversy, with the Polisario Front arguing that it violates international law.
Another challenge is the impact of the agreements on the Moroccan economy, particularly on small businesses. Some critics argue that the agreements have led to the dominance of large corporations at the expense of small businesses.
In conclusion, the Morocco trade agreements with the EU have brought many benefits to the country, including increased trade, market access, economic growth, and job creation. However, there are also challenges that need to be addressed, such as the issue of Western Sahara and the impact on small businesses. Despite these challenges, the trade agreements remain an important tool for promoting economic cooperation between Morocco and the EU.