The Joint Committee tasked with monitoring the Morocco-USA Free Trade Agreement (FTA) held on Monday its 9th meeting to discuss ways of strengthening further economic partnership and trade exchanges.
The meeting, co-chaired by Minister of Industry & Trade Ryad Mezzour and U.S. Ambassador to Morocco Duke Buchan, gathered delegates from US Trade Representative Office and representatives from several Moroccan ministerial departments.
According to press reports, discussions focused on developing a common vision to boost trade exchanges, U.S. Customs updates and export of Moroccan products to the U.S. market.
Mr. Mezzour hailed the resilience of Rabat-Washington axis at the current international juncture marked by disruptions of the global supply chains and stressed the need to achieve a better balance of trade between the two countries.
Morocco is the only country on the African continent having concluded a FTA with the United States. The FTA supports Morocco’s goals to develop as a regional financial and trade hub, providing opportunities for the localization of services and the finishing and re-export of goods to markets in Africa, Europe, and the Middle East.
Since the U.S.-Morocco FTA came into effect in 2006, bilateral trade in goods has grown nearly eightfold. The U.S. and Moroccan governments work closely to increase trade and investment through high-level consultations, bilateral dialogue, and other fora to inform U.S. businesses of investment opportunities and strengthen business-to-business ties.
Morocco, located at the confluence of Europe, Sub-Saharan Africa, and the Middle East, is transforming itself into a regional business hub by leveraging its geographically strategic location, political stability, and world-class infrastructure to expand as a regional manufacturing and export base for international companies.