U.S., Morocco Sign Three Agreements to Boost Trade
New U.S.-Morocco agreements signed last week will stimulate significant additional commercial activity between the two countries and within the broader Middle East/North Africa region, the Office of U.S. Trade Representative said. They include a trade facilitation agreement to set a…
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new standard for transparency and predictability in customs matters that USTR said will make it easier for companies to bring products into both markets. It includes new commitments reflecting innovations and practices developed since the free trade agreement was signed in 2004, such as allowing the submission of information before goods arrive, and the electronic payment of duties, taxes, and fees to facilitate the prompt release of goods. The U.S. and Morocco also agreed on Joint Principles for International Investment, including strong protection for foreign investment, and the right to compensation in the event of a direct or indirect expropriation. They also endorsed Joint Principles for Information and Communication Technology Services. USTR said the agreement will support the global development of ICT services, including Internet and other network-based applications that are critical to innovative e-commerce.