The Turkish giant specializing in textiles, construction and the food industry plans to set up an industrial unit in Morocco.
Karnawall’s investment concerns upstream textiles and will be dedicated to the production of poly-viscose artificial fiber. This establishment was supported and supported, according to Mohamed Boubouh, president of the AMITH, by the Moroccan public authorities, in particular the ministry of industry, trade, digital economy and new technologies.
This first establishment responds to one of the three demands of the AMITH in the context of the revision of the Morocco-Turkey FTA. The aim is to attract investment from 5 major Turkish groups, locally manufacture 60% of Turkish textiles sold in Morocco and, finally, apply a customs duty based on common law of 30% on imports of Turkish textiles.