Canada Morocco Free Trade Agreement

If this agreement is signed, Morocco will become Canada`s candidate country for membership in these countries. It could therefore benefit from the presence of major international players in technical fields such as new information technologies, electronics, electricity and hydropower – these are some areas where Canada has recognized expertise. Canada negotiates bilateral free trade agreements with the following countries and trading blocs:[7] Few visible trade benefits A system very similar to the Morocco-U.S. free trade agreement It is necessary to review our trade with Canada to understand that it is still very limited and, importantly, und diversified. The agreement being negotiated takes place in a context similar to that between Morocco and the United States. Small profits in trade, but very large investments. Canadian investors are recruited from around the world and there is no doubt that a presence in sub-Saharan Africa is inevitable. In this context, it is stressed that Morocco adheres to the approach of a “positive list” with a “meeting” clause. On the other hand, Canada proposes that all agricultural products be subject to a phased tariff reduction regime when the agreement comes into force.

Canada`s business activity in Morocco is diversified and focuses on trade and investment; Partnering with educational institutions and the creation of franchises and other global value chain activities. In 2018, Morocco was Canada`s 54th largest bilateral trading partner and Canada`s fourth-largest bilateral trading partner in Africa. Morocco offers Canada business opportunities in infrastructure, mining, clean technology, defence and security, agriculture, aerospace and education. In 2018, our two-way trade was more than $907.3 million, an increase of 10.9% since 2017. Among the main drivers of the Moroccan economy are agriculture, tourism and mining (phosphates). An emerging sector of high-end manufacturing (aerospace, automotive) is also present in the country. Morocco is one of the priority countries mentioned in Canada`s international education strategy. Morocco-Canada Free Trade Agreement – Investments in a Trade Deficit The United States and Morocco signed a free trade agreement on June 15, 2004. The agreement entered into force on January 1, 2006.

The U.S.-Morocco Free Trade Agreement is a comprehensive agreement that supports the important economic and political reforms underway in Morocco and provides better trade opportunities for U.S. exports to Morocco by removing and removing trade barriers. An agreement on the promotion and protection of foreign investment (FIPA) is an agreement to encourage foreign investment. Morocco has entered into an association agreement with the European Union (EU) which came into force in March 2000 and foresees a total reduction in tariffs by 2012. In March 2004, Morocco signed a free trade agreement with the United States, which came into force on January 1, 2006. Morocco has also concluded free trade agreements with Tunisia, Egypt, Jordan (these four countries are signatories to the Agadir Declaration), EFTA and Turkey. Morocco is a member of the World Trade Organization (WTO) and the Arab Wholesale Zone (GAFTA). The North American Free Trade Agreement between Canada, the United States and Mexico came into force on January 1, 1994 and created the world`s largest post-GDP free trade region. Until 2014, NAFTA`s GDP was estimated at more than $20 trillion, with a market of 474 million people. [5] [6] Based on this success, Canada continues to negotiate free trade agreements with more than 40 countries and has free trade agreements, most recently with South Korea, Canada`s first free trade agreement with an Asia-Pacific partner.