Senior Moroccan Officials Meet With Detroit Businesses to Discuss Opportunities Under New U.S.-Morocco Free Trade Agreement

Detroit Latest Stop on Nationwide Tour to Promote Agreement

DETROIT, March 31 -- Morocco's Minister of National Economy Rachid Talbi El Alami, Moroccan Ambassador to the United States Aziz Mekouar, and other members of their delegation met today with Detroit executives representing major companies in business -- particularly the automotive sector -- to discuss opportunities resulting from the U.S.-Morocco Free Trade Agreement (FTA), including increased trade and investment, as well as job development and closer ties between Detroit and Morocco. The FTA, approved by both governments, will go into effect in the coming weeks.

The Moroccan delegation is also in Detroit for a seminar sponsored by GlobalAutoIndustry.com.

"More Arab Americans call Michigan home than any other state in the U.S.; Detroit is a wonderful place to talk about the exciting opportunities the Free Trade Agreement presents for both the United States and Morocco," said Ambassador Mekouar. "I look forward to forging a closer relationship between this diverse and culturally rich city and Morocco's business centers; today's meetings are a critical step to that end."

For U.S. businesses, the Free Trade Agreement -- deemed the "best market access package of any U.S. free trade agreement with a developing country to date" by the Office of the United States Trade Representative -- eliminates tariffs on 95 percent of all bilateral trade between the United States and Morocco, and includes stringent protections for intellectual property and the environment. Because of Morocco's agreement with the European Union, tariff reductions will apply to U.S. goods produced in Morocco and sold in Europe.

The Free Trade Agreement marked the latest illustration of the historic partnership between Morocco and the United States that has existed for more than 217 years; Morocco was the first country to formally recognize the fledgling United States in 1777. Today, Morocco is a model of political, social and economic reform in the region, is an important ally to the U.S. in the War on Terror, and was recently elevated by the U.S. to the coveted major non-NATO ally status.

Ambassador Mekouar's stop in Detroit is part of an aggressive effort to inform U.S. businesses about the FTA, encourage investment and increase trade. The tour, stopping in more than 10 U.S. cities, is sponsored and organized by the Moroccan-American Trade & Investment Council (MATIC).

MATIC is an American based non-profit trade association established under the Royal Patronage of His Majesty King Mohammed VI to assist Morocco in encouraging economic growth and stability through the promotion of its private sector; charter members include companies, trade associations and firms from both Morocco and the United States. MATIC will be sponsoring and organizing numerous activities across the United States during the coming year to foster trans-Atlantic trade. Several major United States firms, including Dell, Delphi, Oracle and Pfizer, have made significant investments in Morocco.

"Moroccan-U.S. trade is poised for a significant boost with this agreement," said Ted Smith, an economist who brings more than 30 years of international business experience to his role as MATIC's managing director. "Bilateral trade in goods and services exceeded more than $1 billion in 2003, and there are few obstacles to double-digit growth every year this decade."

According to the Office of the United States Trade Representative, in 2003 Michigan exported more than $2 million in merchandise to the North African nation. When the agreement becomes active in March, Detroit will be able to export most goods tariff free.

Primary U.S. exports to Morocco include aircraft, cereals and machinery, while Morocco ships foodstuffs, processed goods and textiles to the U.S. market. Morocco is also a popular destination for U.S. filmmakers who are attracted by its great natural beauty, varied terrain and established movie- making support services. Long-admired for its spectacular tourism venues, competitive textile industry, skilled workforce and access to European, African and Middle Eastern markets, Morocco is a highly advantageous site for American companies.

MATIC's U.S. office is located at 1101 Vermont Ave. NW, in Washington, D.C. Please visit MATIC's Web site for more information: http://www.moroccanamericantrade.com/.

Additional information is also located on the U.S. Morocco Free Trade Agreement Web site at http://www.moroccousafta.com/.