Latest news with #R54.22bn
TimesLIVE
4 days ago
- Business
- TimesLIVE
Morocco to review Turkish trade deal over expanding deficit, say sources
Morocco is planning to review its trade agreement with Turkey and push for more Turkish investment to offset an expanding trade deficit driven largely by Turkish fabric imports, two sources told Reuters. Omar Hjira, the Moroccan cabinet member in charge of trade, will soon visit Turkey — Morocco's sixth-biggest trading partner — to discuss measures aimed at mitigating the $3bn (R54.22bn) deficit, the sources, who attended a meeting with Hjira, said on Tuesday. They asked not to be named due to the sensitivity of the matter. Morocco's trade and industry ministry did not immediately respond to a Reuters request for comment. Initially signed in 2004, Morocco and Turkey introduced amendments to their free trade deal five years ago, including a 90% tariff on Turkish textile and clothing imports to protect Moroccan manufacturers and jobs.
TimesLIVE
20-05-2025
- Business
- TimesLIVE
Islamic development bank to lend Algeria $3bn over next three years
The president of the Islamic Development Bank said on Monday that Algeria is expected to receive $3bn (R54.22bn) in loans over the next three years to support the implementation of key development projects. Bank president Muhammad Sulaiman Al Jasser told Algeria's Ennahar TV the funding will be directed toward projects including railway development, as part of the president's plan to connect the country's economic zones.
