Morocco-USA trade increased fivefold since 2005
Trade between Morocco and the United States has increased fivefold since 2005, the year before the entry into force of the Free Trade Agreement (FTA) between the two countries, to reach 5 billion dollars in 2019, said, Monday in Casablanca, the Chargé d’Affaires of the US Embassy in Morocco, David Greene.
This commercial dynamic has allowed the creation of thousands of jobs and contributed to the economic development of the two countries, underlined David Green at an event celebrating the 15th anniversary of the American-Moroccan Free Trade Agreement.
“There are around 150 American companies currently operating in Morocco…This investment has supported the development of strategic industries, which enabled Morocco to position itself in the global supply chain, in advanced and complex markets,” said the US diplomat at the event, organized by the American Chamber of Commerce (AmCham Maroc) and the American Diplomatic Mission in Morocco.
In 2019, the United States imported $3 trillion in goods and services from around the world, the diplomat recalled, noting that, with the right orientation and dedication, Moroccan businesses can benefit from the FTA to improve their share of US imports.
For his part, the United States Consul General in Casablanca, Lawrence Randolph, lauded the contribution of the FTA in strengthening economic ties between American and Moroccan business communities.
This agreement covers a multitude of economic sectors and a wide range of products, he said, adding that American operators have been able to benefit from Morocco’s strategic position as a gateway to Africa, as well as its various international partnerships.