Canada Morocco Trade Agreement

Canada is conducting exploratory discussions on bilateral or multilateral free trade agreements with the following countries and trading blocs, although formal negotiations have not yet begun:[7] If Morocco signs the free trade agreement with Canada, it will be the first African country to conclude a free trade agreement with Canada; it will also strengthen its already extensive list of preferential free trade agreements. Canada and Morocco have agreed to begin free trade negotiations. In October 2009, consultations were launched with the public, Canadian provinces and territories, businesses and non-governmental organizations to define the scope of a potential free trade initiative with Morocco. A free trade agreement with Morocco would be Canada`s first with a country on the African continent. In 2009, bilateral merchandise trade with Morocco amounted to $513 million. Imports from Morocco totalled $138 million, mainly consisting of mandarins, nuts, textile clothing, electrical machinery and footwear. Canadian exports to Morocco totalled $375 million, mainly durum wheat, mineral fuels and oils, vehicles, pulses and pharmaceuticals. “If Morocco signs this agreement, it will be above all a matter of courting foreign investors.” The future agreement is also pharmacological. Morocco`s fourth largest import from Canada is medicine. In 2012, bilateral merchandise trade amounted to $522.6 million. Canadian merchandise exports to Morocco totalled $US 368.5 million in 2012. Canada`s top exports to Morocco in 2012 included wheat (mainly durum wheat, which accounted for 57.1% of Canadian exports to Morocco) as well as mineral fuels. Canada`s merchandise imports from Morocco totalled 154.1 million $US in 2012.

Among the main imports were edible fruits (mainly citrus fruits), mineral products (mainly fluorspar and calcium phosphate), woven clothing and fertilizers. Take your business to the next step. Explore the possibilities of expanding your presence in Morocco with the help of our trade commissioner service (TCS) and find out more about the trade relations between the two countries, market facts and other information. Another very sensitive subject for Anglo-Saxony: intellectual and commercial property. This point will certainly have a prominent place among the provisions of the Treaty. On the other hand, if you take a purely commercial approach that takes into account the asymmetry between our two economies, Canada will certainly benefit more than Morocco. According to the latest foreign trade statistics, our trade deficit with Canada in 2011 was DH 2.5 billion. Canada is consistently referred to as a trading nation, with total trade accounting for more than two-thirds of its GDP (the second highest level in the G7 after Germany). [1] [2] Of this total, about 75% are treated with countries that are part of free trade agreements with Canada, particularly with the United States, on the North American Free Trade Agreement (NAFTA). [3] At the end of 2014, Canadian bilateral trade reached $1 trillion for the first time. [4] Morocco has concluded an Association Agreement with the European Union (EU) which entered into force in March 2000 and provides for a total reduction in customs duties by 2012.

In March 2004, Morocco signed a free trade agreement with the United States, which entered into force on 1 January 2006. Morocco has also concluded free trade agreements with Tunisia, Egypt, Jordan (these four countries are signatories to the Agadir Declaration), EFTA and Turkey. Morocco is a member of the World Trade Organization (WTO) and the Greater Arab Free Trade Area (GAFTA). In October 2009, the Canadian government launched an extensive consultation process with the public, Canadian provinces and territories, businesses and non-governmental organizations to gather input and determine the scope of a possible free trade initiative with Morocco. In parallel with these consultations, representatives of the Governments of both countries participated in two exploratory cycles; first in Rabat in January 2009, then in Ottawa in June 2009. . .