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Trade Agreement Morocco

Morocco`s trade with African countries increased from $533 million in 1998 to about $3 billion in 2008, an increase of 460 percent. [5] This has been facilitated by the opening of 27 routes serving the continent`s main cities and the opening of 27 routes serving the continent`s main cities, as well as the opening of a number of Moroccan operators in Africa, including Royal Air Maroc, mobile operator Maroc Telecom and Attijariwafa Bank. The agreement with Morocco was designed to take into account the different levels of economic development by providing for an asymmetrical approach. While EFTA states lifted their tariffs and quantitative restrictions on imports or exports from Morocco and measures of equivalent effect when the agreement came into force, Morocco was allowed to allow them to expire for an extended transitional period, leaving time to adapt its economy to free trade conditions. This phase of operation is completed on December 1, 2011. Agricultural trade is the responsibility of three bilateral agricultural agreements negotiated between the EFTA state (Iceland, Norway and Switzerland/Liechtenstein) and Morocco. They provide for significant concessions on both sides, taking into account the respective sensitivities. Each agreement contains specific rules of origin, usually based on “fully preserved” criteria. The agreement contains provisions relating to the elimination of tariffs and other trade barriers, as well as other trade-related disciplines, such as competition rules, intellectual property protection, public procurement, state monopolies, subsidies, arbitration procedures and payments and transfers.

However, specific structural adjustment provisions allow Morocco to introduce, where appropriate, temporary measures to protect small industries and sectors in restructuring or in difficulty, particularly when these difficulties lead to significant social problems. The institutional provisions provide for the establishment of a joint committee to monitor the agreement. Since the free trade agreement came into force, the U.S. trade surplus with Morocco has increased to $1.8 billion in 2011, up from $79 million in 2005 (the year before it came into force). In 2011, merchandise exports to the United States totaled $2.8 billion, up 45% from the previous year. The corresponding U.S. imports from Morocco amounted to $996 million, an increase of 45%. Morocco is now the 55th largest export market for American products. Trade between Morocco and the United States has increased from $1.4 billion since the implementation of the 2006 free trade agreement between the two countries to $2.3 billion in 2007, Former Moroccan Minister of Trade and Economy Salaheddine Mezouar said in 2007 that Moroccan clothing exports to the United States increased by 122% in 2006, while perfume sales increased by 41%, and also found that U.S. investment in Morocco exceeded $1.5 billion, mainly in tourism and clothing. In 2006, trade between Morocco and the United States increased by 44% compared to 2005. Moroccan exports to the United States totalled $521.2 million, while U.S.

exports to Morocco reached $875.5 million, or 67% over 2005. Under the free trade agreement, Morocco can export a duty-free quota of 15 million square metres of manufactured goods and 500 tonnes of less developed fibre and cotton materials to the United States. Morocco intends to develop its textile markets outside the EU due to strong competition, following the abolition of quotas for Asian textiles in January 2005. [2] Moroccan exports to the United States increased by 25% in 2007 and found that the free trade agreement between the two countries facilitated and encouraged trade.