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U.S.-Morocco Free Trade Agreement

Forum on Morocco's import and export documentation, tariff rates and import taxes, Free Trade Agreement, etc.

U.S.-Morocco Free Trade Agreement

Postby bridgat » Tue Nov 18, 2008 8:27 am

The U.S. and Morocco Conclude Free Trade Agreement
U.S. and Morocco Conclude Free Trade Agreement: Morocco Joins Jordan as Second Muslim Nation With U.S. FTA; Another Step Toward Middle East Free Trade. Both the Houses of the Congress have passed the FTA.

The United States and Morocco have concluded negotiations on a free trade agreement (FTA) as part of a broader strategy to liberalize trade in the Middle East. Currently, U.S. products entering Morocco face an average tariff of over 20 percent, while Moroccan products are subject to an average tariff of 4 percent as they enter the United States. During the negotiations, the U.S. sought to eliminate tariffs and other duties on trade between Morocco and the United States on the broadest possible basis, improve intellectual property rights protection, and eliminate barriers in Morocco's services markets. The U.S. seeks to liberalize trade through multilateral, regional, and bilateral initiatives. A free trade agreement with Morocco is an important element of this strategy. The U.S. hopes to have the agreement implemented in January 2006. The agreement has been ratified by the U.S. Congress..

Click the following link to see the latest information on the U.S.-Moroccan Free Trade Agreement.
For more information, go to the website:
U.S. - Morocco Free Trade Agreement to Increase Access to the Moroccan Market for U.S. firms.
On March 2, 2004, less than two years after President George W. Bush and King Mohammed VI committed to launch free trade negotiations, the United States and Morocco announced that they had “completed negotiations, and reached agreement on a comprehensive and groundbreaking bilateral Free Trade Agreement (FTA) that ushers in a new era of deepening and strengthening bilateral economic ties.”

U.S. and Moroccan Trade Representatives Robert Zoellick and Taieb Fassi Fihri will initial the the agreement in June 2004 and then submit the text to their legislatures for approval this summer.

The U.S.-Morocco FTA is one of only seven FTAs completed by the United States, only the second with an Arab nation, and the first in Africa. It recognizes Morocco’s unique geographic location at the crossroads of three continents, its commitment to reform, and the Kingdom’s status as a long-time friend and ally in the region.

The U.S.-Morocco FTA will provide fair conditions of competition for trade between the two countries, improve the business environment, facilitate and increase U.S. exports in a number of sectors such as telecommunications, tourism, energy, environment, insurance and finance. (Over the past 6 years, U.S. exports to Morocco averaged $475 million annually -- mainly aircraft, corn and machinery). Removal of Moroccan tariffs will be phased-in slowly for a few very sensitive products and sectors, specifically textile and beef, poultry and wheat markets.

The U.S.-Morocco FTA’s investment rules will make Morocco quite attractive to U.S. companies searching for opportunities in the Mediterranean, Middle East, or Africa. Investment provisions, new market access, and enhanced IPR protection will make Morocco the ideal platform for other foreign investors to produce products for export to the United States and Europe, as well as to the Maghreb and West Africa.

The U.S.-Morocco FTA is an integral part of President Bush’s vision of creating a Middle East Free Trade Area (MEFTA) by 2013. The United States currently has FTAs with Israel and Jordan. Bahrain began FTA negotiations with the United States in January 2004. The Morocco FTA will likely serve as the North African anchor of the MEFTA structure.
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