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The United States Department of Commerce is inviting Moroccan companies, startups, and tech businesses to explore investment opportunities in the US through their annual SelectUSA Investment Summit.
This year's SelectUSA Investment Summit, to be held June 23-26 in National Harbor, Maryland, continues a tradition of attracting hundreds of companies from around the world. The event assists foreign companies and has facilitated over $200 billion in client-verified investment.
«SelectUSA opens doors for companies of all sizes», Senior Commercial Officer Shakir Farsakh said Tuesday at a press conference in Casablanca, encouraging Moroccan businesses to register. «This diversity allows companies to discover crucial resources and market insights for success in the US economy».
US Consulate offers support
The US consulate promises assistance to the Moroccan businesses wanting to attend the event and explore investment opportunities in the the United States. «We offer information sessions throughout the year to prepare attendees for the summit», Farsakh told Yabiladi. «In fact, we held a session this morning on legal structures and program planning».
Once applications are submitted, the US Department of Commerce will review them collaboratively with the US Consulate in Casablanca.
The assitance also extends to the selected companies which, once approved, will have access to an application to tailor their program based on their needs and interests. The Moroccan delegation will also have dedicated events, including meetings with the Moroccan embassy and US Department of Commerce officials.
«The Moroccan delegation will have tailored meetings with US Department of Commerce leadership, the Moroccan Embassy in D.C., and other key partners», the US consulate promises. «I will personally be there to help companies get the most out of the summit», concluded Farsakh.
Strengthening trade ties
Previous SelectUSA Summits have seen increasing Moroccan participation. The first delegation in 2019 included 14 companies, followed by a record-breaking 34 participants in 2022, «the biggest delegation from Africa», according to Nezha El Amrani, senior commercial specialist at the US Consulate.
«Interest continued in 2023 with a 27-member delegation», El Amrani added. «Several participants have since opened U.S. presences and are significantly increasing their profits».
The US consulate hopes to double Moroccan interest and further leverage the Morocco-US Free Trade Agreement.
«Morocco is the sole African nation with a US Free Trade Agreement», Consul General Marissa Scott highlighted. «Our trade relations have grown in volume and diversification. The Summit is another catalyst to strengthen our enduring trade bonds».
«The responsibility is on both sides», Consul Scott said. «Don't be afraid of the American market. Cross the Atlantic – business and opportunities are there. The United States is open for business, and we vow you diversity».
Moroccan companies intrested in participating in the summit are invited to pre-register via this link: https://forms.office.com/g/1Gi854bBHu.
