Investing.com -- China has asked Morocco to sign a free trade agreement, according to the North African country’s Industry and Trade Minister Ryad Mezzour. Morocco is currently evaluating whether closer economic ties with Beijing would benefit its export-focused manufacturing sector.
The proposal is under consideration, Mezzour said in an interview. Morocco is reviewing the potential impact but has not started formal negotiations.
A trade deal would give local manufacturers better access to the Chinese market and help Morocco diversify its trade relationships beyond Europe, Mezzour said. The country has developed manufacturing industries over the past two decades, including automobiles, aerospace and batteries. Morocco has free trade agreements with multiple markets and countries, including the European Union and the United States.
Any new agreement would require consultation with businesses and government officials, Mezzour said. The deal would need to be evaluated alongside Morocco’s current trade relationships.
"We need to evaluate what impact it would have on our economy" and how it might affect our other free trade agreements, Mezzour said.
Morocco is also working on a free trade agreement with Chile, the minister said. The agreement would increase Moroccan exports such as automobiles to the South American Mercosur trade bloc.
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