U.S. Morocco Free Trade Agreement

WASHINGTON - Mar 2/04 - SNS -- The United States and Morocco have come to terms over a free trade agreement, which will see U.S. import duties phased out over 15 years and Morocco replace duties with tariff-rate quotas.

"I commend U.S. Trade Representative Bob Zoellick and his team and the negotiators from Morocco who have worked diligently to bring this agreement to completion," said U.S. agriculture secretary Ann Veneman.

"The FTA will help bring about more trade flow as Morocco’s 30 million consumers require a broader array of agricultural products. U.S. agricultural exports to Morocco have consisted of commodities such as corn, wheat and soybeans, worth $150 million in 2003.

"However, continuing liberalization of Morocco’s economy and trade are leading to rising demand for consistent, high-quality products. This growth along with newly competitive pricing will present great opportunities for U.S. agricultural exporters."

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