Morocco’s Minister of Industry and Trade Ryad Mezzour highlighted the kingdom’s appeal as an attractive investment destination and a pivotal link for enhancing trade between the United States and Africa at a “Conversation” held on Tuesday by the Washington DC-based think tank, The Atlantic Council.
Mezzour was in Washington for the 8th session of the Joint Committee in charge of monitoring the U.S.-Morocco Free Trade Agreement (FTA). Morocco’s Ambassador to the US Youssef Amrani gave a short introduction. The panel included Minister Mezzour and the President of the Corporate Council For Africa, Florizelle Liser, moderated by Egyptian-American Khaled Sakr.
Minister Mezzour highlighted “Morocco’s accrued expertise across various sectors and its bolstered international credibility.” He went through the litany of Morocco’s extensive reforms over the past 25 years “to improve the business environment, promote high-value industries, and develop top-notch infrastructure.”
Mezzour pointed out the “strategic significance” of Morocco’s ports in enhancing Morocco’s infrastructure and growing its economy, especially the Dakhla Atlantic port as a gateway for investments into Africa.
The minister touched upon Morocco’s efforts to strengthen the competitiveness of production sectors to help stimulate foreign direct investment.
With regard to the Morocco-US Free Trade Agreement, the only free trade agreement between the U.S. and any African nation, Mezzour noted the “need to revitalize the agreement signed two decades ago.”
He underscored Morocco’s commitment to expanding economic activity and competitiveness to double the size of its economy.
In his introductory remarks, Ambassador Amrani highlighted the enduring friendship and mutual strategic interests that have cemented Rabat and Washington as essential partners. He noted the two countries’ collaboration on security threats, climate change, energy issues, and shared values of peace, stability, and economic liberalism. The Ambassador also highlighted the “pivotal role of the free trade agreement in boosting business opportunities and creating jobs in both Morocco and the United States.”
Amrani also pointed out Morocco’s ongoing efforts to foster prosperity across Africa, citing King Mohammed VI’s initiative to improve Atlantic Ocean access for African nations, highlighting the importance of “various mechanisms like the U.S.-Morocco FTA, the African Growth and Opportunity Act (AGOA), and others in promoting economic growth, resilience, and job creation in both Africa and the U.S.”
The President of the Corporate Council for Africa commended Morocco’s reforms in key sectors that have attracted foreign investments, positioning the Kingdom as a “regional and continental model.” She noted the significance of expanding the Moroccan-American partnership through diversified trade and highlighted Morocco’s leadership as a major investor in Africa.
She also applauded Morocco’s initiatives to enhance the participation of women and youth across various sectors.