Morocco and the United States recently celebrated the 20th anniversary of their Free Trade Agreement (FTA) on October 12, 2024. This milestone highlights the significant increase in trade volume between the two nations, which has grown by 2.5 to 3 times since the FTA's inception. Ryad Mezzour, Morocco’s Industry and Trade Minister, noted that while Moroccan imports from the U.S. exceed exports, the economic relationship has fostered job creation through various joint projects [2d5a02e9].
One notable initiative is the establishment of 15 vocational training schools, which boast an impressive employment rate of 80-85% for graduates. Younes Sekkouri, Minister of Economic Inclusion, emphasized the importance of these projects in enhancing workforce skills and creating job opportunities in Morocco. U.S. Ambassador Puneet Talwar pointed out that Morocco's stability and infrastructure make it an attractive destination for American investors, further solidifying the economic ties between the two countries [2d5a02e9].
In addition to the FTA, the bilateral relationship between the United States and Israel has also been a focal point in recent discussions. The U.S. Senate unanimously passed a resolution aimed at strengthening economic ties with Israel, particularly in light of the ongoing conflict with Hamas. This resolution underscores the importance of the U.S.-Israel Free Trade Agreement, which has facilitated significant trade growth, with American exports to Israel reaching $14.2 billion in goods and $5.8 billion in services in 2022 [0f67f99a].
The economic bond between the U.S. and Israel is crucial, especially during times of conflict, and it has been mutually beneficial, supporting over 20,000 American jobs through Israeli investments. The resolution also addresses the Boycott, Divestment, and Sanctions (BDS) movement, emphasizing the need to protect this vital economic partnership [f645bb9f].
Furthermore, the relationship between the U.S. and Spain remains strong, with shared interests in security and trade. Spain is a significant source of foreign direct investment in the U.S., and both countries collaborate closely within NATO and on issues concerning Ukraine. The Spanish government has expressed its support for U.S. policies, including those related to Israel, indicating that the bilateral partnership is unlikely to be jeopardized by political changes in either country [e713bd95].
Lastly, Israel's trade with Morocco has seen substantial growth, doubling to $116.7 million in 2023, following the normalization of relations through the Abraham Accords. This partnership has led to increased diplomatic, economic, and security cooperation, although the recent Gaza conflict has impacted tourism from Israel to Morocco. The Abraham Accord Peace Institute has recommended further economic collaboration, including the establishment of a trade office and a free trade agreement between the two nations [fc4f85ff].