A bilateral agreement on trade facilitation was signed in Washington, D.C, USA last week. The deal is about promoting trade of Morocco and United States of America through the generalization of administrative and customs procedures.
It was done during the visit of His Majesty King Mohammed of Kingdom of Morocco to U.S President Barack Obama.
Morocco is the “the first country in the region to conclude a bilateral agreement on trade facilitation” with the United States of America and to endorse the “joint principles on investment” and “trade-related services technology information and communication, “according to the Office of the U.S. Trade Representative.
Morocco’s Minister of Economy and Finance, Mohamed Boussaïd, and Michael Froman, U.S. Trade Representative (USTR) signed the said agreement.
The accordance is part of the promotion of Free Trade Agreement (FTAs) in force between the two countries since 2006 and intends to boost Morocco’s competitiveness and enhance the environment of trade in the Kingdom.
Since the entry into force of the FTA in 2006, trade between Morocco and the United States marked a significant increase, as evidenced by the volume of bilateral trade that have experienced an overall increase of 300%. U.S. foreign direct investment in Morocco have