Moroccos Free Trade Agreement With The European Community

Author : U. S. Department U.S. Department or Commerce
Publisher :
ISBN 13 : 9781502323651
Total Pages : 78 pages
Book Rating : 4.3/5 (236 download)

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Download or read book Business Opportunities in Morocco written by U. S. Department U.S. Department or Commerce and published by . This book was released on 2014-09-10 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S.-Moroccan Free Trade Agreement (FTA), which went into effect in 2006, is one of the most comprehensive free trade agreements that the U.S. has ever negotiated. Morocco is the second Arab and first African nation to have an FTA with the U.S. The FTA provides U.S. exporters increased access to the Moroccan market by eliminating tariffs on 95% of currently traded consumer and industrial goods and levels the playing field with European competition. It provides enhanced protection for U.S. intellectual property, including trademarks and digital copyrights, expanded protection for patents and product approval information and tough penalties for piracy and counterfeiting. Morocco is steadily progressing toward greater internal modernization and globalization, with the creation of the country's first commercial courts, streamlined customs services and 16 Regional Investment Centers dedicated solely to facilitating new business ventures. In 2003, the Moroccan government passed a comprehensive labor code that protects both employers and employees. Strategically located along the Strait of Gibraltar just a seven-hour flight from JFK and three hours from Paris, Morocco is seen more and more as a regional hub in North Africa for shipping logistics, assembly, production and sales. The moderate Mediterranean climate on 2,750 miles of coastline and its developing infrastructure make Morocco an attractive location for both business and leisure. Morocco's Association Agreement and Advanced Status with the European Union (EU) and the FTA with the U.S. have spurred development of manufacturing. Morocco relies on these key trade agreements to stimulate economic growth and to foster the job creation necessary to facilitate social and educational reform. In the agricultural sector, Morocco is heading toward a good 2010-1 harvest. The record rain registered during the fall and early winter should lead to good yields in 2011. Morocco relies on imports to fulfill local demand for wheat. Morocco is the size of California, but only 20% of the land is arable. There is substantial potential for expanded U.S. agricultural products and irrigation technology exports to Morocco. The U.S. Trade and Development Agency (USTDA) continues to make significant contributions to infrastructure development in Morocco. In 2010 USTDA funded two Reverse Trade Missions to the U.S. in the sectors of renewable energy and ports development. It has also funded a technical assistance for the Agency for Renewable Energy and Energy Efficiency (ADEREE) for the development of 5MW PV solar plant.