American business coalition satisfied at the conclusion of Moroccan-US FTA

The support coalition for the Middle East-American free trade zone voiced satisfaction at the conclusion of the FTA by Morocco and the United states.

A press release of the American businessmen coalition said Morocco is a key ally of the United States, adding the passage of the ALE in both Moroccan parliamentary chambers is an important step in the enforcement of the accord.

Bill Reinsch, chairman of the American council for external trade, said the coalition, created last year, will keep on cooperating with the governments of the two countries to ensure the implementation of the Moroccan-US FTA.

The council said the number of American companies contemplating to do business in Morocco is growing owing to the stability of the North African country, to its strategic location, openness and the reforms it introduced to shore up the private sector.

The FTA is the start of a strategic economic partnership "with a key ally in the Middle east," said Jeffrey Donald, vice president of the business council for international entente.

Rabat and Washington signed last June the FTA to reinforce partnership between the United States and Morocco. Morocco is the second Arab country after Jordan and the first African country to conclude an FTA with the USA. The agreement will immediately eliminate tariffs on 95 percent of bilateral trade in consumer and industrial products, with all remaining tariffs to be eliminated within nine years.