This Gala was an opportunity for the two nations to reaffirm their commitment to strengthening their economic partnership and increasing trade in the years to come.
Speaking on this occasion, the Minister of Industry and Trade, Ryad Mezzour recalled that this year marks the twentieth anniversary of the Free Trade Agreement (FTA) between the two countries, calling for an in-depth evaluation of this agreement in order to better balance trade.
Although the volume of trade has increased by 2.5 to 3 times over the last two decades, Morocco’s imports from the United States remain far higher than Moroccan exports, Mr. Mezzour stressed.
“We have incredible opportunities to offer American companies, enabling them to increase their market share in Europe, Africa and beyond,” he said.
For his part, the Minister of Economic Inclusion, Small Business, Employment and Skills, Younes Sekkouri, estimated that the fruitful collaboration between Morocco and the United States is manifested through businesses, corporations, jobs and investments, and also extends to technology transfer.
He also discussed the efforts of the two countries to strengthen the entrepreneurial ecosystem and promote the integration of young people into the job market, welcoming the contribution of American companies to job creation in Morocco.
Thanks to the Morocco-USA partnership, no less than 15 vocational training schools have been built, offering training to thousands of young people, continued Mr. Sekkouri, noting that among these young people, more than 80 to 85% managed to drop out. a job.
For his part, the United States Ambassador to Morocco, Puneet Talwar, emphasized the strong and growing ties between the businesses and economies of the two countries, adding that this dynamic is a clear sign of the vitality of cooperation between Morocco and the United States.
Thus, Mr. Talwar highlighted the stability and security of the Kingdom, the solid macroeconomic management and the world-class infrastructure, noting that the port of Tanger Med, which has become the leading port in Africa and the Mediterranean, is an example of success of Morocco’s strategic initiatives.
Morocco positions itself as a gateway to Africa and a key partner for American investors, offering considerable growth opportunities, he said, considering that strengthened cooperation between the two nations will ensure common prosperity and an ever stronger relationship.
In the same vein, the general director of AmCham in Morocco, Rabia El Alama, highlighted the role of the Chamber in promoting trade and investment opportunities, recalling the continuous efforts of AmCham to support Moroccan and American companies through various cooperation programs.
This gala is an opportunity to celebrate the unique partnership linking Morocco and the United States, based on common values and mutual respect, she indicated, recalling that many successes have already been achieved, such as the Treaty of friendship of 1786, the unique free trade agreement in Africa signed in 2004, as well as the first strategic dialog in 2012.
The Morocco-USA partnership continues to strengthen through strategic initiatives and sustained exchanges, with a particular focus on job creation and the integration of young people into the labor market.
Interview Between Time.news Editor and Economic Expert
Time.news Editor: Welcome to our special interview segment. Today, we have the honor of speaking with Dr. Sarah Alvi, an economic expert specializing in international trade relations. Dr. Alvi, thank you for joining us.
Dr. Sarah Alvi: Thank you for having me! I’m excited to delve into the Morocco-USA economic partnership.
Editor: Recently, there was a significant gala highlighting the 20th anniversary of the Free Trade Agreement between Morocco and the United States. Minister Ryad Mezzour emphasized the need for an evaluation of this agreement. Why do you think this review is necessary now?
Dr. Alvi: It’s crucial because, despite the increase in the volume of trade—by 2.5 to 3 times over the past two decades—there remains a noticeable imbalance. Morocco’s imports from the US significantly outweigh its exports. A comprehensive evaluation could identify areas for improvement and ensure both nations benefit more equitably from the FTA.
Editor: Absolutely. Minister Mezzour mentioned incredible opportunities for American companies to enhance their market presence, especially in Europe and Africa. What specific sectors do you believe hold the most potential for American businesses in Morocco?
Dr. Alvi: There are several promising sectors. Renewable energy is a standout, considering Morocco’s commitment to sustainable initiatives. Additionally, sectors like technology, agriculture, and manufacturing could thrive. The opportunity for American firms lies in leveraging Morocco as a strategic entry point to African markets.
Editor: That’s insightful, particularly given the emphasis on job creation. Minister Younes Sekkouri highlighted collaboration resulting in vocational training schools that have positively impacted youth employment. How critical do you find this aspect of the partnership?
Dr. Alvi: It’s vital. The integration of young people into the job market is essential for economic stability and growth. By focusing on vocational training, not only are American companies benefiting from a skilled workforce, but they are also contributing to social development in Morocco. It creates a win-win situation that strengthens bilateral ties.
Editor: Ambassador Puneet Talwar pointed out the vitality of the economic and business connection between the two countries. In your view, how can this dynamic be sustained and further developed?
Dr. Alvi: Continuous dialog is key. Regular exchanges on best practices, policy development, and business strategies can solidify the relationship. Joint projects—especially in technology transfer and entrepreneurial support—can also foster innovation and economic resilience, ensuring both sides feel the benefits.
Editor: It sounds like a fruitful partnership has the potential for further growth and mutual benefit. As we look ahead, what would you recommend as the next steps for both countries to maximize the FTA’s impact?
Dr. Alvi: I would suggest establishing a joint task force to review the agreement and suggest amendments. It’s also essential to focus on creating trade incentives, reducing bureaucratic hurdles, and encouraging investment in infrastructure that facilitates trade. Ongoing workshops and networking events can spur collaboration between businesses as well.
Editor: Thank you, Dr. Alvi. Your insights into the Morocco-USA economic relationship are invaluable. It seems that with strategic evaluations and forward-thinking initiatives, this partnership can continue to thrive.
Dr. Alvi: Thank you for having me. I share your optimism about the future of this economic partnership.