Morocco continues its efforts to reduce the trade deficit in exchanges with the United States, which amounts to approximately $2 billion, and to benefit more from the free trade agreement signed between the two countries, which has been in effect since 2006.
Morocco, through its Minister of Industry and Trade, Ryad Mezzour, expressed during the eighth session of the joint committee tasked with monitoring the free trade agreement between the United States and Morocco, its desire to benefit more from this agreement to increase its exports, especially agricultural products, to the U.S. markets.
During the joint committee meeting earlier this week in Washington, Ryad Mezzour stated, "The access of our agricultural products to the American market remains below Morocco's ambitions and export potential," emphasizing the need to reach markets for heat-treated poultry, as well as fruits and vegetables.
According to the Moroccan News Agency, the minister also discussed a series of priority issues related to the access of Moroccan products to the U.S. market and vice versa, addressing ways to overcome non-tariff barriers.
Morocco aims to reduce the trade deficit with the United States by increasing exports of agricultural products to the American markets, along with other sectors such as textiles and automobiles, despite the strong competition from Asian countries due to their competitive prices, as highlighted during the joint committee session.
Figures and statistics from the Office of the United States Trade Representative reveal that Washington's exports to Morocco in 2023 amounted to $3.8 billion, an increase of $34 million compared to 2022 figures, which showed a trade deficit of $2 billion in favor of the United States.
According to the same source, U.S. exports to Morocco in 2022 reached $3.7 billion, while Moroccan exports to the United States were $1.7 billion, indicating a trade balance gap of $2 billion.
It is worth noting that Morocco is the only African country with a free trade agreement with the United States, contributing to the rise in U.S. exports to Morocco and consequently creating a trade deficit that Morocco seeks to reduce by finding ways to benefit more from this agreement, particularly in the field of agricultural exports, which remains one of Morocco's top export sectors.
