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Morocco, US sign agreement to promote bilateral trade : 21/11/2013

Morocco, US sign agreement to promote bilateral trade

Morocco and the United States signed on Thursday 21st 2013 an agreement to promote trade between the two countries, particularly through the reduction of customs and administrative procedures, on the occasion of the working visit of His Majesty King Mohammed VI in the United States at the invitation of President Barack Obama.

The agreement, signed by the Minister of Economy and Finance, M. Mohamed Boussaid, and the U.S. Trade Representative (USTR), Michael Froman, is part of the efforts to promote the free trade agreement (FTA) into effect between the two countries since 2006, and aims to boost Morocco's competitiveness and improve trade in the Kingdom.

Morocco is the "the first country in the region to conclude a bilateral agreement on trade" with the United States of America, and to endorse the "joint principles on investment" and "trade in services related to information technology and communication," according to the Office of the U.S. Trade Representative.

Since the entry into force of the FTA in 2006, trade between Morocco and the United States marked a significant increase, with the volume of bilateral trade going up 300 pc.SE MAP 211938 GMT Nov 2013

Source : MAP