While trade between Morocco and Libya rose 40% last year, the two countries have signed a partnership agreement to strengthen their trade cooperation.
Two weeks after the announcement of the establishment of maritime and land line connecting Libya to Tunisia and Morocco, Rabat and Tripoli strengthen their cooperation by signing a trade agreement. The agreement, adopted by Morocco Export, the Moroccan export promotion agency, and the Libyan Centre for Export Development, will last three years and aims to promote economic and trade exchanges. It will also result in an exchange of data, market research, and organizing joint trade fairs to promote meetings between professionals from both countries.
According Maarifi Zahra, CEO of Export Morocco, Libya said it wanted to benefit from the Moroccan experience in the areas of packaging and food products for export. The partnership should also enable Morocco to export more products to Libya.
Trade relations between the two countries are traditionally irregular. According to the Moroccan Exporters Association (Asmex), trade with Libya have dropped nearly 79% between 2002 and 2011, then increased by 40% to 902 million dirhams in 2012 (approximately $ 107 million) .
North Africa remains one of the least economically integrated areas of the continent with Central Africa.