Morocco-U.S. free trade zone, a promising project
Morocco-USA, Economics, 5/15/2002

The free trade zone that Morocco and the USA contemplate, is a promising project likely to help the Moroccan economy have a stronger position in world economy and reduce dependency on the European Union (EU), an advisor at the U.S. Trade Department said.

The materialization of the project, backed by President George W. Bush and by Speaker of the U.S. House of Representatives Dennis Hastert, is "a necessity" particularly with the entry into force of the Morocco-EU free trade area getting closer (2010), Tom Bradmeyer, told MAP news agency.

Morocco and the USA are due to start negotiations on the creation of a free trade zone. The accord will help Morocco appear on the very selective list of countries already bound to the USA by such an agreement. Only four nations, namely Canada, Mexico, Jordan and Israel, are on the list.

Bradmeyer said "the Bush Administration is aware of the importance of consolidating economic ties with its strategic allies, particularly with Morocco, a long-time friend." The official urged the U.S. federal government and law-makers to speed up the process of creating the zone with Morocco, which offers an institutional frame favourable to investments and enjoys political stability.

Kenneth Melton, from the U.S. Business Association, said he is confident as to the prospects of economic cooperation between Morocco and the USA.

U.S. Businessmen closely follow the evolution of the Moroccan economy and appreciate the modernization efforts exerted by the North African nation, he said.

Melton noted that his Association welcomes the announcement made by President Bush regarding the creation of the free trade zone with Morocco during his talks in Washington with King Mohammed VI. He added that the materialization of the project will hoist trade and economic exchanges to the level of the excellent political ties that have always bound Morocco and the USA.

The creation of the zone is part of a wider U.S. vision to consolidate the American commercial presence in the region and to make of Morocco a gateway for U.S. exports to Europe, Africa and the Arab world, he said.

Previous Stories:
  King Mohammed meets US energy secretary   (4/24/2002)
  Morocco grants interest to projected free trade accord with US   (4/23/2002)
  US delegation visits Fez   (4/13/2002)

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