US-Morocco Trade Surges 200% Since 2006, Summit to Explore Further Growth

"Knowing that we want to grow and prosper our economic and trade relations, we are therefore actively seeking Moroccan investors wishing to explore the possibility of expanding their activities to the US market at the upcoming SelectUSA 2021 summit," he said in an interview with Médias24. He recalled that Moroccan exports to the United States have increased by more than 200% since 2006, i.e. since the entry into force of the FTA (521 million USD in 2006, 1.6 billion USD in 2019). That’s why, "we want to take better advantage of this positive momentum to continue to increase trade between our nations through investments on both sides," he said.

In the eyes of the American diplomat, "Moroccan companies are quite competitive to invest in our dynamic market that allows companies and industries around the world to quickly find their place and thrive." "The USA is the largest consumer market in the world," he stressed, before listing other reasons why Moroccan investors have an interest in investing in the United States: a business-friendly environment, advanced technology and infrastructure, smooth supply chains, skilled labor, etc. "Furthermore, Moroccan investments in the USA would result in an increase in its exports to the United States and the creation of many additional jobs in Morocco," he said.

According to Lawrence Randolph, the coronavirus will not undermine Moroccan investment in the Uncle Sam’s country. "Success in the US market can lead to global success and even if the global economy is currently facing health challenges, it is logical that entrepreneurs are striving to find innovative ways to continue international trade," he added, stressing that Morocco is the only African country to enjoy a US free trade agreement which generally aims to give exporters from both parties better access to additional markets, with hundreds of millions of potential customers in the United States.

"Despite the ongoing challenges, we will continue to explore new opportunities and start now to bring together talented entrepreneurs to participate in the virtual SelectUSA summit next June after the physical one in Las Vegas in 2019," the American diplomat continued. He also welcomed the positive evolution of the win-win trade between the two nations. "The United States is the 5th largest foreign investor in Morocco, with $3 billion already injected into its local economy, so we will continue, and relentlessly, to encourage the continuation of this trade in both directions," he assured.