U.S. Signs Trade Facilitation Agreement with Morocco
The Office of the U.S. Trade Representative has announced the signing of a trade facilitation agreement with Morocco. A USTR press release states that the agreement builds on the free trade agreement between the two countries and includes provisions covering Internet publication, transit, transparency with respect to penalties, and other issues. According to USTR, Morocco is the first country in the region to conclude a trade facilitation agreement and endorse joint principles on investment and information communication technology services trade with the United States.
USTR notes that since the Morocco FTA entered into force in 2006 two-way trade has increased more than 300%, with U.S. exports up more than 350% and Moroccan exports to the U.S. more than doubling. U.S. foreign direct investment in Morocco has quadrupled over the same period and totaled $613 million in stock investment in 2012.