The Committee of Foreign Affairs and National Defense and Islamic Affairs and MREs (Moroccans Residing Abroad) in the parliament ratified Wednesday a partnership agreement in the field of sustainable fishing with the European Union (EU) and an agreement to establish the African Continental Free Trade Agreement ( AfCFTA).
Members of the committee approved the draft no. 14.19 that agrees to partner in the field of sustainable fisheries between Morocco and the EU and the Exchange of Letters accompanying the Fisheries Agreement (signed in Brussels on Jan. 14).
The committee, also, ratified draft 10.19 that approves the Exchange of Letters between the Moroccan kingdom and the EU on amending the two protocols no. 1 and 4 of Euromed – signed on Oct. 25 2018 in Brussels.
The new fisheries deal between Morocco and the EU was signed on Jan. 14 in Brussels then was ratified later by the EU in a public session on Feb. 12 after passing all the European legislative procedures and becoming applicable.
The new deal defines the fishing zones and conditions of the Union fleets access. It also stipulates increasing the financial return from 40 to 52.2 million euros annually (I.e. an increase of 30 percent).
Meanwhile, the committee approved the draft to establish AfCFTA – of which the Moroccan government pledged to make a success after it came into effect on May 30.
In a previous press conference, Moroccan government's spokesman Mustafa al-Khalaf hailed the agreement and affirmed the government's willingness to implement it.
Khalaf said this deal would enhance bilateral trade on the level of the African Union (AU) to 60 percent by 2022.
This new agreement seeks to remove all commercial obstacles and reinforce trade among the continent's countries, at a time when UN reports show that less than 40 percent of African trade is related to raw material and 60 percent to manufactured material.
