Morocco Atlantic Bridge, Morocco and the U.S. foster economic relations
Personal Notes : An excellent and much needed initiative. The two countries have a great deal to gain from developing their long lasting special relationship beyond diplomatic and mutual geopolitical interests that have so far somehow predominated over trade. Fact is that in the U.S the trade agenda is driven by its private sector, so it is up to us to make our country and its business opportunities known to U.S CEO's and CIO's who are global players.
Renewable energy is specifically mentioned. I believe Morocco's $9 Billion Solar Initiative Program is too good to pass upon for any U.S renewable energy concern with a global perspective.
Morocco with its geostrategic position and political stability can also constitute for U.S companies a foothold for the MENA region. Even more so now that regime changes in both Tunisia and Libya as well as Egypt, will open these markets for international investments.
There are presently to my knowledge only two U.S firms implanted in Morocco doing business in energy, General Electric and CMS Energy. IBM and Microsoft are also implanted here, and their range of services include energy efficiency software, especially IBM. Hopefully more will follow.
Article below by Morocco Tomorrow
Rabat, October 31, 2011 – Morocco and the United States signed here on Monday a declaration of intent for the setting up of “Morocco Atlantic Bridge” initiative.
The initiative aims to strengthen bilateral trade relations and partnership, and better use of the free trade agreement in force between the two countries.
Signed by Moroccan Foreign Trade Minister Abdellatif Mazouz and U.S. Ambassador to Rabat Samuel Kaplan, this declaration is part of the implementation of the Moroccan strategy for development and export promotion “Maroc export plus,” and the U.S. national export initiative “National export initiative.”
Mazouz told MAP after the signing ceremony the initiative is likely to energize and increase investment in Morocco in logistics and industrial services, based on the FTA with the United States and the agreements with Europe, Arab and African countries.
Morocco will take advantage of 105 U.S. agencies involved in making known U.S. products, services and investment in the world, to promote Morocco’s exports and increase trade between the Kingdom and the United States.
The sectors targeted by the initiative are ITC, automotive, renewable energy, electrical components, pharmaceuticals, equipment and logistics, aerospace and environmental technology and consumer goods.
The initiative will also facilitate the establishment and development of American companies in Morocco, to build on the strategic positioning of Morocco as a business platform for logistics, services, events and international fairs for U.S. companies.
Thus, U.S. firms can increase their sales in the markets of Sub-Saharan Africa, the Middle East and the EU from Morocco.
Areas of cooperation include in particular the organization of joint promotional events, the linking of Moroccan and American businessmen and companies, the certification of Moroccan shows according to U.S. standard (CTF) and enhancing communication.