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Morocco and the United States endorsed new agreements that will stimulate significant additional trade and investment

Mr. Abdelkader Amara, Minister of Industry, Trade and New Technologies, and Amb. Miriam Sapiro, Deputy U.S. Trade Representative, initialed a Customs and Trade Facilitation Agreement, in Washington DC, on December 5, 2012, prior to the third Joint Committee meeting under the U.S.-Morocco Free Trade Agreement (FTA). This agreement expands upon the commitments in the FTA to set a new standard for transparency and predictability in customs matters that will make it easier for companies to bring products into both markets. The text includes new commitments, such as allowing the submission of information before goods arrive, and the electronic payment of duties, taxes, and fees to facilitate the prompt release of goods.

Morocco and the United States and also reached agreement on " Joint Principles for International Investment". Building on ongoing efforts to promote trade and investment, the Principles are a statement of Morocco's and the United States continuing commitment to adopt and maintain a policy environment that enables and encourages international investment. They include strong protection for foreign investment, consistent with principles of customary international law.

In addition, the two sides endorsed a set of Joint Principles for Information and Communication Technology (ICT) Services, demonstrating their shared commitment to a sector that is having a transformative effect on the global economy. Adoption of the ICT Principles will support the global development of ICT services, including Internet and other network-based applications.

All these important initiatives are aimed at boosting bilateral and regional trade and investment.


   
   
   

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