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Win-win situation in Morocco-US FTA, says Mezouar
29 Dec '05
1 min read
The Free Trade Agreement between Morocco and the US is profitable for both sides, but Morocco should be prepared to capture the open market of America, said Salah Eddine Mezouar, the Minister of Industry, Trade and Economy Upgrading.
Considering the globalised economy, strategic geographical position of Morocco should be highly valued and promoted, said the minister.
In this regard, many officials and professional from Morocco visited the US to explore potential market and establish communication with American companies and clients.
Cars manufacturing, textile, leather, shoes and agro-alimentary industries are the sectors are targeted, said Mezouar.
US President George W. Bush signed an order to implement the Free Trade Agreement with Morocco on January 1, the White House announced.
He also stressed the FTA would bring prosperity and hope for the next generations.
After seven rounds of bilateral talks lasted 13 months, Morocco signed the FTA with the US on June 15, 2004.
Under this agreement, tariffs on 95 percent of all bilateral trade between the United States and Morocco will be eliminated.
The remaining tariffs on these goods, mainly agricultural products from both countries, will be eliminated within the next nine years.
Considering the globalised economy, strategic geographical position of Morocco should be highly valued and promoted, said the minister.
In this regard, many officials and professional from Morocco visited the US to explore potential market and establish communication with American companies and clients.
Cars manufacturing, textile, leather, shoes and agro-alimentary industries are the sectors are targeted, said Mezouar.
US President George W. Bush signed an order to implement the Free Trade Agreement with Morocco on January 1, the White House announced.
He also stressed the FTA would bring prosperity and hope for the next generations.
After seven rounds of bilateral talks lasted 13 months, Morocco signed the FTA with the US on June 15, 2004.
Under this agreement, tariffs on 95 percent of all bilateral trade between the United States and Morocco will be eliminated.
The remaining tariffs on these goods, mainly agricultural products from both countries, will be eliminated within the next nine years.
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