The Administration of Customs and Indirect Taxes announced this Friday the entry into force of the agreement amending the free trade agreement between Morocco and Turkey, by a circular No. 6328/222.
The Administration of Customs and Indirect Taxes specifies, in this circular, that according to a letter dated April 29, 2022, the Ministry of Foreign Affairs, African Cooperation and Moroccans Residing Abroad informs the Administration of Customs and Indirect Taxes of the entry into force of the agreement amending the agreement between Morocco and Turkey, signed in Rabat on August 24, 2020, as of April 28, 2022
The new agreement stipulates the imposition of customs taxes for a period of 5 years on a number of Turkish industrial products, amounting to 90% of the value of applicable customs taxes, while the Moroccan side does not apply any other fees with a similar effect on imports of Turkish origin, except as provided for in the two articles 18 and 19 of the free trade agreement.
The agreement stipulated that “the Moroccan-Turkish commission must meet 3 months before the expiry date of the first five-year period, to assess whether there will be an extension of 5 additional years, the joint commission may, by mutual agreement, extend the first five-year period for 5 additional years.
According to the agreement, “six months after the entry into force of this agreement, the commission will conduct an annual assessment of the development of bilateral trade, and will also review the implementation of this agreement with the aim of reducing the products covered by it or, if possible, reduce customs duties, making the necessary adjustments.
Article 17 of the free trade agreement between the two countries has also been amended, allowing both parties to initiate temporary assessment procedures for a limited period of time, in the form of an increase in customs taxes, “provided that these measures relate only to emerging industries or customs taxes applied by both parties, in the context of these procedures, on the products of the other party, representing 30% of its value.
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