Economic cooperation tops king's visit to US
Morocco, Politics, 6/20/2000

The major purpose of the state visit Morocco's King Mohammed VI starts this Tuesday to the USA will be the consolidation of cooperation ties between Morocco and the USA.

Moroccan and American officials both agree that economic cooperation remains short of the excellent political relations that have always bound Rabat and Washington, Morocco being among the very first countries having recognized the United States in 1777.

Over the past years, Moroccan-US economic ties have been experiencing a steadfast growth. In 1999, Moroccan exports were worth $ 420 million, compared to $ 367 million a year before. Imports reached $ 552 million in 1998, growing by 20% compared to 1997 when imports had declined by 8% from 1997.

Meanwhile, US investments reached a record level in 1997 when they stood at $ 350 million, accounting for 28% of foreign investments in Morocco.

The two countries are bound by a package of agreements geared towards facilitating investments and trade exchanges. A Morocco-US council on trade and investments was set up in 1995 to inform US economic operators on investment opportunities in the kingdom.

The USA is Morocco's third partner, after France and Spain, in terms of trade and investments.

According to Moroccan officials, who pin great hopes on the king's visit to the USA, the daring reforms implemented by the King since his coming to power in July 1999 are likely to encourage American investors to seek business in Morocco.

The King's visit offers an opportunity to examine means to promote economic relations between the two countries and to increase US investments in the Kingdom, Moroccan ambassador to the USA, Abdallah Maaroufi said.

After the Royal visit, a mission of Moroccan businessmen will head for the USA to brief US peers on investment opportunities offered by Morocco.

For Rom Newman, Assistant under-secretary of state, the king's visit will undoubtedly give a new impetus to bilateral relations, especially in economic fields.

Newman told the Moroccan first TV channel RTM that the reforms ushered in by King Mohammed VI arouse the admiration of the Americans. These reforms will most likely offer the Moroccans a better tomorrow, he said, MAP reported.

Previous Stories:
  King Mohammed starts Tuesday state visit to USA   (6/19/2000)
  Police and protesters clash in Rabat   (6/19/2000)
  Budget of UN mission for Sahara amounts to $ 50 million for coming fiscal year   (6/17/2000)

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