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Wednesday, May 8, 2024

Turkey’s exports to Morocco Increase Despite Imposed Tariffs

While Morocco imposed tariffs on Turkish imports in response to a “commercial invasion,” Turkish textile and raw materials exports increased by 30.4% between January and August 2022 to reach 44,000 tonnes.

According to recent data from the Istanbul Textile and Raw Materials Exporters’ Association (ITHIB), Morocco had the highest increase in the quantity of imported textiles and raw materials among Turkey’s top export destinations; Italy, Germany, the US, Spain, and France.

As the Moroccan imports of Turkish products surged despite imposed protective measures, the Turkish textile and raw materials sector marked 7.5% year-on-year growth, amounting to $8.8 billion by the end of August with the EU countries and Africa serving as the main export destinations.

While the clothes designed by the two fast-fashion companies appeal to, particularly youth’s interest in trendy yet affordable fashion, the Moroccan textile industry is gradually losing ground to multinational giants, particularly in the urban hubs.

The lack of funding as well as limited growth prospects for small and medium-sized Moroccan businesses in the sector represent additional challenges to the development of the local textile industry, argues Morocco’s central bank governor Abedlatif Jouahiri.

However, Turkish textile products alongside Chinese brands- have flooded the Moroccan fashion sector with clothing companies such as LC Waikiki and Koton gaining popularity among Moroccan customers.

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