Morocco and USA sign donation accord

Morocco and the USA signed Monday in Rabat a donation agreement meant to consolidate Moroccan-US economic ties, part of the "Eizenstat Initiative."

The initiative, named after Stuart Eizenstat, a former U.S. under-secretary of state for economic affairs who toured the North African region in June 1998, aims to forge sound economic cooperation ties between the USA and Maghreban countries (Morocco, Tunisia and Algeria) through the consolidation of partnership between businessmen.

The donation, whose amount was not specified, will serve to promote contacts between Moroccan and American entrepreneurs, increase U.S. direct investments in Morocco, transfer US advanced technology and enlarge trade exchanges.

The Eizenstat Initiative also seeks to help Maghreban states set up the appropriate business climate, improve trade regulations, administrative procedures and enhance the privatization process.