Morocco News: Moroccan-U.S trade exchange reached USD 2.3Bn in 2007, minister

Moroccan-U.S trade exchange reached USD 2.3Bn in 2007, minister
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BM on 26 June, 2008 06:45:43
 
Casablanca - Trade exchange between Morocco and the U.S. reached USD 2.3Bn in
2007 against USD 1.4Bn in 2006, said, here Tuesday, Minister of Foreign Trade,
Abdellatif Maazouz.
Speaking at a conference  on "The Moroccan-US Free Trade Agreement (FTA), and
the Attijariwafa Bank and US Exim Bank partnership: what opportunities for
businesses?", Maazouz underlined that such an increase is ascribed to the
"favorable" evolution of Moroccan imports which nearly tripled between 2005 and
2007.
As for Moroccan exports to US markets, they witnessed a 25% rise, the minister
noted.
In order to give a new impetus to trade exchange, it is necessary to set up a
direct maritime line between the port of Tangier (north) and the U.S. East
coast, Maazouz stressed. "Thanks to the FTA, big American companies have
started to invest in Morocco in the past two years," he added.
Maazouz, who recalled Morocco's various FTAs with Europe, Arab countries,
Turkey, said the US-Moroccan FTA touches on several sectors, including
agriculture.
For his part, Deputy Chief of Mission at the US embassy in Rabat, Robert
Jackson highlighted the positive course of bilateral trade exchange, adding
that the FTA benefited Morocco, mainly in the fields of trade and investments.
Jackson said the FTA between the two countries has attracted a number of
American investors notably in tourism, the automotive industry, mining and
aeronautics.
Attijariwafa bank CEO, Mohamed El Kettani said the meeting comes after the
signing of the Attijariwafa- Exim partnership agreement in 2006, adding that
such a partnership reflects the dynamics of exchange between Morocco and the
U.S.
MAP