Calls to speed up Morocco-U.S. FTA implementation

Chairman of the American-Arab Chamber of Trade, David Hammoud, on Monday urged for speeding up the implementation of the Free Trade Agreement singed June 15th between Morocco and the United States.

The FTA, approved last week by the American congress, would eliminate tariffs on 95% of bilateral trade in consumer and industrial products, with all remaining tariffs to be eliminated within nine years.

"The visit of King Mohammed VI (to the United States) sent a strong signal to the U.S." and represented a "fresh opportunity to strengthen economic relations between the two countries," Hammoud told the national TV "TVM," referring to the visit the Moroccan monarch paid to the United States early this month.

He underlined that American companies advocate strongly the FTA with Morocco while Democrats and Republicans in the Congress are particularly interested in the pact because it is the first of its kind to be concluded with an African country and the second with an Arab nation after Jordan.

This agreement will help resolve the problem of unemployment in Morocco and will open new perspectives for American companies to explore fresh markets in Africa and the Arab world, he said, recalling the efforts made by the American-Arab trade chamber for the conclusion of the FTA.

On the other hand, Hammoud said Moroccan and U.S. leaders "share the same objectives and visions with regard to cooperation, economic development, fight against terrorism, restoration of peace and security and enhancement of freedom throughout the world."