With EU-Morocco trade already worth €24 billion Europe’s leaders are hoping that a trade deal will bring closer economic integration.
UK Foreign Secretary William Hague this weekend welcomed the launch of negotiations between the EU and Morocco for a Deep and Comprehensive Free Trade Agreement.
“The Arab Spring was a demand for greater freedom, dignity and economic opportunity. The United Kingdom has been at the forefront of efforts within the European Union to ensure that we do all we can to support these popular demands,” said Mr Hague.He added that deepening trade relationships between the EU and the countries of the southern Mediterranean is one of the best ways to create economic opportunity. “Trade is a powerful instrument to stimulate economic growth, enhance competitiveness and support economic recovery and accordingly is one of the top three areas of focus for our Prime Minister in our G8 presidency.”“The EU is Morocco’s largest trading partner, with total trade amounting to €24 billion in 2011. Over €1 billion of this was with the UK. The DCFTA will raise this trade relationship to a new level, bringing closer economic integration between Morocco and the EU single market. A DCFTA would see closer alignment of Moroccan rules, regulations and institutions with those of the EU single market, so that goods and services can be traded freely.”
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