Morocco, US to hold 5th round of FTA negotiations in october
Morocco-USA, Economics, 7/26/2003

Morocco and the United States agreed to hold the 5th round of negotiations for a free trade agreement next October in Morocco, Morocco's delegate-minister of foreign affairs and cooperation and chief negotiator for an FTA with the US, Taieb Fassi Fihri announced Thursday.

Fassi told reporters in a joint press conference with US chief negotiator for an FTA, Catherine Novelli, that Moroccan and US negotiators that held the 4th round of negotiations this week in Washington drew the general guidelines of the agreement as well as the principles and practical modalities for trade liberalization.

The Moroccan minister underlined that Moroccan negotiators expounded to the US side ongoing economic and social reforms in Morocco, underlining that an FTA with the US is a sign of trust in the kingdom's economy.

For Novelli, negotiations were very productive, and enabled to reach significant moves forward at all levels and sectors. According to the US official, there are still pending issues but negotiations are going on the right path and they are due to end at the end of 2003.

To a question on the effect of the agreement on trade relations with the European Union, Fihri denied that a free trade agreement with the USA would entail any effects on Morocco's trade with the EU, insisting that it is an opportunity for Morocco to diversify cooperation with countries all over the world. Both the EU and the USA share the view that it is important that Morocco to secure a good development level by attracting foreign investments, he argued.

Novelli also stressed that the American side supports the promotion of economic relations between Morocco and the European Union, underscoring that Americans strongly believe that trade liberalization contributes to opening markets, generating jobs, and bringing about prosperity.

Morocco and the US are hoping to reach before end of this year the agreement announced in April 2002 during a state visit to the USA by King Mohammed VI. Morocco will therefore become the first African country to conclude an FTA with the US.

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