On Tuesday, July 16, a joint committee for the follow up of the Morocco-US Free Trade Agreement (FTA) convened in Rabat. Minister of Industry and Investment Moulay Hafid Elalamy and Assistant US Trade Representative for Europe and the Middle East, Dan Mullaney led the joint committee.
The committee discussed means to further develop trade relations between Morocco and the US. Elalamy recalled the recently launched air routes between Morocco and the US, including the Casablanca-Miami air route launched by flag carrier Royal Air Maroc in April 2014.
Elalami discussed the free trade agreement, calling it a “catalyst for bringing business communities closer together between the two countries.” The US and Morocco signed the free trade agreement (FTA) on June 15, 2004. The agreement has been effective since January 1, 2006.
Since its enactment, US-Morocco have reinforced their diplomatic relations by continuing to advance in areas such as development and security. Mullaney expressed his country’s intention to further boost trade between the countries and to promote investment. The US official called for reflection on how to improve bilateral trade to take full advantage of the opportunities the agreement offer.
According to moroccoworldnews.com, exports also increased more than fivefold to $1.38 billion in 2018 from just $0.26 billion in 2006. Imports more than quadrupled, reaching $4.06 billion in 2018 compared to only $1.08 billion in 2006.