Directorate-General for Trade

Morocco

Morocco is an active participant in the Euromed process, which aims to create a Euro-Mediterranean Free Trade Area by 2010. Bilaterally with the EU, Morocco pursues a close economic relationship that is "more than association, less than accession". The EU is Morocco's first trading partner accounting for nearly 60% of its total trade, the bulk of which is textiles and agricultural goods.

EU-Morocco trade is growing fast. Between 1995 and 2007, trade volumes grew by over 80%

Trade in goods

• EU exports of goods to Morocco 2007: €13 billion
• EU imports of goods from Morocco 2007: €7.3 billion

Morocco's economy is still relatively dependant on trade in textiles and agricultural products, which together accounted for 52% of EU imports from Morocco in 2007.

Trade in services

• EU exports of services to Morocco 2007: €2.1 billion
• EU imports of services from Morocco 2007: €4.4 billion

Foreign Direct Investment

• EU FDI stocks in Morocco 2007: €1.3 billion

More statistics on Morocco

The European neighbourhood policy and financial assistance

EU-Morocco co-operation is an important part of the European Neighbourhood Policy. The Neighbourhood policy supports political and economic cooperation between Morocco and the EU and is the framework for financial assistance from the EU to Morocco. The European Neighbourhood Policy Instrument - ENPI - is endowed with €11.9 billion for 2007-2013. For the period 2007-2010 the funds allocated by the National Indicative Programme (NIP) to the Moroccan government amount to €654million. These funds are being spent in contributing to Morocco's ongoing economic reform.

South-South integration

Moroccan trade with the Maghreb and the Mediterranean countries is limited and accounts respectively for just 1% and 5% respectively of its total trade. One of the key goals of the EU-Morocco trade relationship is reversing this low level of intra-regional trade. On 25 February 2004, Morocco signed the Agadir Agreement with Egypt, Jordan and Tunisia. This committed all parties to removing substantially all tariffs on trade between them and to harmonising their legislation with regard to standards and customs procedures. It entered into force in July 2006. The effective implementation started in April 2007 with the creation of the Agadir Technical Unit in Amman. Morocco is the first Mediterranean country to have adopted the new pan-Euro-Mediterranean system of cumulation of origin, in December 2005. The system - which makes it simpler to import products manufactured in more than one country throughout the Mediterranean basin is generating new opportunities for economic operators, notably in the textile sector. It is also an important spur to from further regional economic integration.