Morocco - US council holds meeting in Rabat

The Morocco - US Council on Investment and Trade held Tuesday a meeting in Rabat to assess past and future actions.

Addressing the meeting, Othman Benjelloun, who co-chairs the council with US Lester Pollack, called on Morocco to adopt new measures to boost its financial and fiscal systems and infrastructures to attract more investments.

Morocco's economic structures need to be completed through real spurring moves so that the country can benefit from more US investments and from the global economy marked by an ever-increasing tough competition.

The meeting was attended by Andre Azoulay, Royal Advisor; Mohamed Benaissa, foreign affairs and cooperation minister; Fathallah Oualalou, economy and finance minister; and US ambassador to Morocco, Edward Gabriel.

The council works to incorporate private sector views into the development of Moroccan trade policy and helps eliminate costly impediments to trade which are obstacles to the growth of commercial relations between the United States and Morocco.

In addition, the council strives to foster better coordination of Moroccan economic and trade policies towards the United States. The Council's board of directors consists of business representatives from the Moroccan and American private sectors, with a majority of the members coming from the United States.

The board governs the council, implements council policy and sets the strategic direction of the council. Financial support for the council comes from companies' contributions, membership dues and donations from the business community.

The majority of funds that support the council originate from sources in the United States. Specifically, the council provides: timely data to council members and other interested parties on economic trends and government policies business and investment opportunities in Morocco, trade and investment opportunities for the U.S. and Moroccan companies sector analysis and market studies, information on macroeconomic conditions and favorable business environments, a database of Moroccan companies interested in investing in the United States.

The council has branches in Washington and Casablanca.