Investment: US Sec. of Commerce Welcomes Reforms Undertaken by Morocco

24/09/2020 1650

 

In a speech at a virtual conference by the Corporate Council on Africa (CCA), based in Washington, on the sidelines of the 75th United Nations General Assembly, Ross underlined that the recent reforms carried out in the Kingdom, "including the rationalization of customs procedures through the transition to the paperless mode, as well as the strengthening of the protection of minority investors will lead to continued growth for our two economies".

"Our exports of products and services to Morocco support about 12,000 jobs in the United States, and several American companies have gained a foothold in Morocco thanks to its economic and political stability", affirmed the American official during this conference held under the theme "Partnership for economic recovery: Morocco", with the participation in particular of the Minister of Industry, Trade and Green and Digital Economy Moulay Hafid Elalamy and several decision-makers and economic operators from the United States and the African continent.

"The continued lifting of trade barriers will improve the investment and business climate in Morocco in the short term, particularly in the areas of infrastructure, aeronautics, defense and energy", he noted, adding that American companies "can and have offered their expertise and experience in these sectors as they work to meet the needs of the growing Moroccan population".

Ross welcomed the fact that social, economic and cultural relations had remained "close" over the centuries between Morocco and the United States, recalling that the Kingdom was the first nation to sign a Treaty of Peace and Friendship with the United States in 1786.

"The US government is determined to deploying its resources to support initiatives that can deepen trade ties between our two countries," said Ross.

For his part, the regional director of Boeing in Morocco Douglas Kelly lauded the "facilities and business opportunities" in the Kingdom which make "our partnership very valuable".

The Moroccan skilled workforce is a "big advantage" for Boeing, said Kelly, noting that the aviation industry in Morocco "includes more than 130 companies that operate very successfully."

The Boeing regional director added that thanks to the facilities offered by the Kingdom and its competitiveness, Boeing and the Moroccan government aim to produce 1 billion dollars in value added per year by 2028 in the Kingdom.

(Source: MAP)