Trade in goods between Morocco and the European Union totaled 35 billion euros in 2020, a decrease compared to the past 3 years due to the Covid-19 health crisis, the Delegation of the European Union in Rabat has shown.
In 2020, Morocco’s exports to the EU reached 15 billion Euros against 20 billion euros for EU exports to Morocco, according to data shared on Wednesday with the press on the sidelines of a press briefing of EU’s Ambassador to Morocco, Claudia Wiedey.
Morocco-EU trade represents nearly 60% of the Kingdom’s foreign exchange and Morocco is also the 1st partner of the European regional bloc in the Southern Mediterranean.
Agricultural trade between Morocco and the Union reached nearly 4.6 billion euros in 2020, i.e. 13% of total trade in goods between the two parties.
Agricultural trade has thus maintained its growth, despite the Covid-19 pandemic which has impacted overall trade in 2020.
Since the entry into force of the agriculture agreement in 2012, Moroccan exports to the EU have doubled to reach 2.5 billion euros in 2020 (16% of total exports to the EU).
Imports from the EU reached 2.2 billion euros, i.e. 11% of Morocco’s overall imports from the EU.
Trade in processed agricultural products accounts for 9% of bilateral agricultural trade. These products account for 16% of imports from the European Union and 3% of Morocco’s exports to the EU.
Trade between Morocco and the EU is conducted under a free trade regime under the Euro-Mediterranean Agreement establishing an association between the EU and Morocco, supplemented by other agreements.
Signed in 1996, the Association Agreement came into force in 2000. In its trade component, it allowed for reciprocal liberalization of trade in goods with elements of asymmetry in Morocco’s favor.
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