South Korea is planning to sign Free Trade Agreements (FTAs) with seven emerging countries, including Morocco, to boost growth momentum and diversify its trade portfolio. “The seven countries bear high growth potential and offer huge opportunities for mutually beneficial cooperation,” said Mr. Roh Keon-ki, deputy minister for trade negotiations. These countries will also enable Seoul to further expand its global trading network, he said. In June 2023, South Korea exported $37.4 Million and imported $12.7 Million from Morocco, resulting in a positive trade balance of $24.6 Million. Between June 2022 and June 2023 the exports of South Korea have increased by $15.5 Million (70.9%) from $21.9 Million to $37.4 Million, while imports decreased by $-1.6 Million (-11.2%) from $14.4 Million to $12.7 Million.

Source: The North Africa Journal August 26, 2023 12:36 UTC