Morocco & United States: Powerful Economic Partnership to Benefit Africa
President Barack Obama will host the first US-Africa Leaders’ summit in Washington on August 5 and 6. President Obama will be welcoming leaders from across the African continent to the nation’s capital to further strengthen ties with one of the world’s most dynamic and fastest-growing regions. Africa to many political analysts and economic experts carries the hopes of the world thanks to its natural resources and its dynamic economic growth.
Therefore, the American administration is looking actively for credible and reliable partners to assure success of this economically important event. Within the current geopolitical context marked with instability and turmoil, Morocco looks as the most appropriate African nation to accompany the United States in that endeavour.
U.S. policy toward Africa has been on autopilot for much of the past four years, that led to an exhaustive list of good intentions that set priorities for Africa’s well-being and U.S. security interests. However, a real sustainable and forward-looking U.S. policy toward Africa should refocus attention on Africa’s opportunity as an economic powerhouse of the future, a strategy that combines both domestic self-interest and an opportunity to help Africa move forward.
With the right strategies, Morocco and the United States could reap greater benefits from the FTA. Morocco would improve its access to the US market. The United States could use Morocco as a platform for the entire Africa. Morocco-US FTA represents a step in the right direction for the economic integration of the whole African continent. Pursuing this theme, the gains from the Morocco-US FTA could be significantly boosted if accompanied by a comprehensive process of regional integration in the Maghreb and Africa. Through the FTA, the United States could promote such integration by allowing for the cumulation of origin for products from neighboring Maghreb and African countries using a QIZ system, specifically by conditioning QIZ- type benefits on zero rate Moroccan tariffs on inputs from other Maghreb and African countries.
The experience of the EU Pan-Euro-Med cumulation systems is estimated to have increased trade flows among participating countries by 43 percent. In addition, the United States should encourage the regional harmonization of investment regimes, business regulations, customs procedures, and standards in key industries. Morocco, therefore could become an interesting trade and economic platform to American potential investors and at the same time African countries could benefit from this important trade agreement to access the American market. Therefore, Morocco stands out as the most reliable partner and certainly its presence in the upcoming US-Africa Summit will contribute effectively in drawing up an economic and trade road map that will be beneficial for both Africa and the United States.
Source Temsamani said
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