Tuesday, December 18 2018

VietNamNews

Trade office issues warning on Morocco firm

Update: July, 27/2018 - 14:00
The Trade Office of the Vietnamese Embassy in Morocco has warned domestic firms not to pursue any transactions with Ste Top Arabic Sarl A.U. - Photo VNA
Viet Nam News

HÀ NỘI – The Trade Office of the Vietnamese Embassy in Morocco has warned domestic firms not to pursue any transactions with Ste Top Arabic Sarl A.U., a Moroccan company that has been reported by many foreign firms. 

The company, which also holds a representative office in Spain under the name Macrotex Trading Solutions, holds the tax code of 5612886 and is headquartered at QU Bouchouaf Immb A 1 Etage, in the Moroccan city of Nador. 

Its office, which is located in a small city in the north of Morocco, closes frequently, while the phone number provided is rarely available. 

The Trade Office said that the company often contacts exporters in other countries, including Việt Nam, either directly or through a third party, in order to seek suppliers of agricultural products such as packed fruits, cashew nuts, coffee, pepper, and spices. 

Many exporters have been duped by the firm. After signing a contract and reaching an agreement on payment methods, exporters then sent goods which the Moroccan firm refused to receive. This left exporters with high storage fees and forced them to reduce the prices of their goods. The exporters were then faced with an awkward situation and financial losses. 

So far, several foreign companies and one Vietnamese firm have experienced problems. 

As such, the Vietnamese Embassy in Morocco’s Trade Office advised enterprises to be careful and keep away from Ste Top Arabic Sarl A.U to avoid losses. 

It also reminds businesses to research information of all firms carefully before partnering with them, while also being cautious in contract negotiations to reduce risks in promising markets like Morocco. –VNS

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