Thanks to this agreement concluded in 2004, trade between the two countries has more than quadrupled, notes the research center in an analysis signed by Sabina Henneberg, which also underlines the importance of the FTA in the consolidation of the Moroccan-American strategic partnership at the political level.
The analyst mentioned in this regard the confirmation by the administration of President Joe Biden of the decision taken by the administration of his predecessor Donald Trump recognizing the full sovereignty of Morocco over its southern provinces.
This position, which now constitutes the “anchor point of bilateral relations”, will be maintained regardless of the winner of the American presidential elections next November, indicates the expert who reports on the international dynamic on this issue with the recent decision of France supporting the sovereignty of Morocco over its Sahara.
Recalling that Morocco is one of the few countries to have concluded such an agreement with the United States, and the only one in Africa, Sabina Henneberg notes, on the other hand, that Washington is banking on promoting economic growth and trade on the continent and can take advantage of the Kingdom’s role as a “facilitator” of growth and investment on the African continent.
“Morocco has positioned itself well to facilitate and benefit from economic growth and investment in Africa,” thanks to trade agreements concluded with several partners, in addition to the signing of the African Continental Free Trade Agreement, she explains, adding that the Kingdom is now one of the main African countries in terms of foreign direct investment.
Referring to the economic progress made by Morocco over the last two decades, the author of the analysis points out that the Kingdom has experienced significant economic growth in recent years.
The American research center also returns to the series of reforms in Morocco, such as the adoption of the new Investment Charter and the launch of major infrastructure projects such as the high-speed railway line and the Tangier-Med port, which have also helped to strengthen the country’s stature as a “nearshoring” destination.
Addressing the prospects for Moroccan-American economic relations, the Washington Institute for Near East Policy believes that both parties would benefit from further promoting investment and focusing on high value-added and job-generating industries.
2024-09-24 06:43:32