Hanoi (VNA) – The Trade Office of the Vietnamese Embassy in Morocco has warned domestic firms not to take any transaction 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 of Macrotex Trading Solutions, holds the tax code of 5612886 and is addressed at QU Bouchouaf Immb A 1 Etage, in the Moroccan city of Nador.

Its office, which is located in a small city in the northern mountainous region of Morocco, closes frequently, while the phone number it sent to its partners can hardly be reached.

The Trade Office said that the company often contacts exporters in other countries, including Vietnam, 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 fallen into failed dealings with the firm. After signing a contract and reaching an agreement in payment methods, exporters then sent goods which the Moroccan firm then ignored, leaving exporters with high storage fees and forcing them to reduce the prices of their goods. The exporters were then faced with an awkward situation and suffered from losses.

So far, several foreign companies and one Vietnamese firm have fallen into such troubles in the same way.

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 the promising markets of Morocco and others.–VNA