U.S.-Moroccan Business Conference Discusses Expansion, Growth Strategies
Government officials and business leaders from the U.S. and Morocco recently met in Washington, D.C., to discuss new ways of increasing bilateral trade and enhancing business development between the two nations, specifically within the aerospace, agriculture, automotive, and renewable energy and infrastructure sectors.
To support these efforts, the U.S. is dedicating $1.5 million in assistance in order to foster local economic development, and strengthen the legal and regulatory framework — all of which could pave the way to increased employment and investment opportunities for American companies.
Upwards of 120 American businesses currently operate within Morocco, creating and supporting more than 100,000 direct and indirect jobs. Due in large part to the 2006 U.S.-Morocco Free Trade Agreement eliminating tariffs on 95 percent of traded goods, two-way trade between the U.S. and Morocco has seen continuous growth, reaching an estimated value of $3.79 billion in 2011.
The U.S. State Department is now targeting even larger job growth in the region by making U.S. companies more aware of the opportunities they have to invest in and trade with Morocco.