Peru and Morocco carry out talks to begin the negotiation of a Free Trade Agreement

Within the framework of the 13th Ministerial Conference of the World Trade Organization taking place in Abu Dhabi, capital of the United Arab Emirates, the Minister of Foreign Trade and Tourism, Juan Carlos Mathews, pointed out that Peru and Morocco expressed their interest in continue talks to begin the negotiation of a future free trade agreement between both countries.

This was stated after the meeting he had with the head of Industry and Commerce of Morocco, Mr. Ryad Mezzour, where the complementarity of the economies of both countries and the interest in strengthening their commercial ties were highlighted.

“It is the fifth largest economy on the African continent. It is a market with many opportunities that we can take advantage of. Last year, our exports of goods to Morocco reached US$ 15 million, we can exceed this figure by working on agreements that facilitate the import and entry of our products,” said Minister Mathews.

In 2023, 98.8% of Peruvian exports to Morocco correspond to non-traditional products. 65.3% of total exports come from the fishing sector, 13.1% from the agricultural sector and 10.4% from the metallurgical sector, so, through a trade agreement, greater dynamism and growth would occur. to the trade flow between both countries.

“The trade agreement is a very powerful tool to boost trade. For example, it ensures that our products obtain tariff preferences, providing predictability and certainty to operators in the sector. “This allows us to project operations in the medium and long term,” added the minister.

A trade agreement with Morocco would constitute a new alliance for our country, and represents important opportunities for products in the Peruvian export basket such as sugar, chocolate, rice, canned tomatoes, polyethylene, anthracite and sweaters. In this way, Mincetur continues to diversify the markets for Peruvian exports.