A free trade zone constitutes an economic area where participating countries eliminate customs barriers and quantitative restrictions on trade between them. This system allows companies from member countries to trade freely, without being subject to customs duties or quotas, while maintaining their autonomy to define their commercial policy towards third countries. This liberalization stimulates competition, promotes productive specialization and generally generates an intensification of trade flows between partners, thus contributing to the economic growth of the participating countries.
An ambitious Russian strategy for North Africa
The Russia reveals its intentions to create a free trade zone with four major North African countries: Egypt, Morocco, Tunisia and Algeria. This project, initially announced by Vladimir Putin in August 2023, was reaffirmed during the Russia-Africa Partnership Forum in Sochi on November 9 and 10 by Anton Kobyakovadvisor to the Russian president. This initiative demonstrates Moscow’s desire to strengthen its economic ties with the African continent, particularly with its Mediterranean coast.
Solid foundations for lasting partnerships
The relationships between the Russia and the countries concerned already rest on established diplomatic bases. The case of Morocco illustrates this pre-existing dynamic: a strategic partnership agreement has linked Rabat and Moscow since 2002. This rapprochement was strengthened in 2016 during the king’s visit Mohammed VI in Russialeading to the signing of a Declaration on the Deep Strategic Partnership. These prior agreements constitute valuable assets for the realization of the free trade zone project, providing an institutional framework conducive to negotiations and the implementation of future trade arrangements. This initiative could transform economic relations between Russia and North Africa, creating new business opportunities and strengthening economic interdependence between these regions.
Canada
Related News :