Morocco-U.S. FTA results optimistic, minister

The Morocco-U.S. Free Trade Agreement (FTA) has yielded "optimistic" results, said, here Thursday, Moroccan Minister of Foreign Trade, Abdellatif Maazouz.

Speaking at a press conference ahead of the opening of the first session of the U.S.- Morocco joint committee meeting, Mr. Maazouz underlined that the FTA, which entered into force in 2006, has contributed to strengthening trade and developing bilateral economic activities in terms of investment, public markets and logistics.

"Now, we can say that the results are optimistic," he said, calling for boosting bilateral exchange.

In 2006, Moroccan-US trade exchange flared up by 44%, totaling 1.396Bn. Moroccan exports to the United States netted USD 521.2Mn, while American exports to the North African country reached USD 875.5Mn (+67%).

The minister has called for establishing an ad hoc committee Morocco property to seize the opportunities offered, particularly in the sectors of textile, agro-business and services, which, according to him, "deserve much attention and have a valuable potential."

Echoing him, The assistant U.S. Trade Representative for Europe and the Middle East, Shaun Donnelly, expressed satisfaction at the progress achieved by the FTA, stressing that the Moroccan property market is in a position to become an economic platform, following the example of Asian countries, thanks to its favorable climate.

The U.S. delegation, participating in this meeting, will hold talks with Moroccan representatives of the private sector representatives to discuss ways and means to give new impetus to business relations and achieve the goals of the FTA.