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As opposed to the expectations set by the United States International Trade Commission (USITC), a US federal agency that provides trade expertise, the US-Morocco Free Trade Agreement (FTA) has progressively reached fruitful and beneficial results. According to a report released on the 22nd of May by the Moroccan American Center for Policy, a non-profit organization that works on informing American opinion makers, and government officials about the political and social development in Morocco, the free trade agreement has improved imports and exports between the two countries.
The report entitled «Exceeding Expectations : The US-Morocco FTA» indicates that «in broad terms, the ITA … predicted that US exports were ‘likely to increase by $740.0 million, and US imports from Morocco likely to increase by $198.6 million». In 2007 US exports managed to hit the above-mentioned target after two years of the implementation of the agreement. «In 2016, US exports to Morocco have actually increased by about $1.4 billion, amounting to a 286 percent boost», the survey reports stating that : «Moroccan exports to the US reached their target in 2008… and have seen consistent improvement growing by about $560 million overall».
Based on data provided by the report, Washington, Texas, Louisiana, California, DC, Ohio, North Carolina, Illinois, West Virginia and Georgia were respectively the top ten state exporters to Morocco. «Together these states averaged a 706 percent boost in export value since the FTA was adopted», the same source points out.
Increasing trade and creating new investment opportunities
The US-Moroccan Free-Trade, is a bilateral trade agreement that was signed in June 15, 2004 following the US president George W. Bush’ signing of the US middle East Free Trade Agreement (USMFTA). The agreement came into effect on the 1st of January 2006 increasing trade between the two nations and creating new investment opportunities. Two years following its implementation, US exports to Morocco reached 118 percent which was considered as «double the percentage of the next most successful over a similar time period31». On the other hand, «Moroccan exports to the US grew by 18 percent as a total bilateral trade grew by 68 percent-the highest among this group of FTA partners», authors of the report recall.
The agreement which has been up for 11 years «is a prime example of trade policy done right, where both sides benefit, and where the United States strengthens a relationship with a critical friend and ally», said David S. Bloom author and MACP Director of Research and Policy Analysis.
