Morocco-UK Sign Post-Brexit Association Agreement

On October 26 in London, Morocco and the United Kingdom signed an Association Agreement that replicates the effects of the existing EU-Morocco Association Agreement.

Signed by Minister of Foreign Affairs, African Cooperation and Moroccan Expatriates, Nasser Bourita, and the UK Minister of State for the Middle East and North Africa, Andrew Murrison, the agreement will ensure continuity in the trading and wider bilateral relations between Morocco and the UK when the UK ceases to be bound by the EU-Morocco Association Agreement.

Speaking to reporters following the signing ceremony of the Morocco-UK Association Agreement, Bourita said Morocco exports about 8 billion dirhams to the UK, making it the 7th customer of Morocco and its 11th supplier in the framework of the free trade agreement with the European Union.

“Bilateral trade between Morocco and the United Kingdom is worth more than 18.3 billion dirhams, or just under 4% of all trade exchange with the European Union in 2018,” said Minister Bourita.

“By the end of March 2019, Moroccan imports from the United Kingdom amounted to 2.43 million dirhams while exports to Morocco reached 1.87 million dirhams, which corresponds to a coverage rate of around 77%,” he said, adding that British direct investments in Morocco have reached 2.23 billion dirhams in 2018, against 2.04 billion in 2017.

The sectors concerned by these investments are trade, industry and real estate, investments which represent 1% of British FDI across the world.

Regarding remittances from Moroccans living in the United Kingdom, they are worth 5.1 billion dirhams, or 9% of the total transfers of Moroccans living abroad.

Of tourism, the Minister said that the number of British tourists who visited Morocco in 2018 reached 683,362, or 6% of the total number of tourists, up by 4%, adding that the United Kingdom ranks 4th in terms of European tourists visiting Morocco.

There are now 74 weekly flights between the two countries and 13 direct shipping links between Tangiers and British ports, he said.

With this agreement, the exit of the United Kingdom from the European Union will not create any break in the bilateral relationship between the United Kingdom and the Kingdom of Morocco. The agreement ensures a smooth transition, which maintains the fluidity of exchanges and guarantees their security.

Above was cited from this link.if you have any question,please contact them.http://georgiatoday.ge/news/17966/Morocco-United-Kingdom-Sign-Post-Brexit-Association-Agreement-