African-American Economic Forum to Take Place in Marrakech in July

Rabat – Marrakech will host the African-American Economic Forum in July, with Morocco and the US vowing to reinforce economic partnerships.

The event, which will also promote investment opportunities in Morocco, adds to the north African country’s growing cooperation with the US in several fields, including economy and security.

US Secretary of State Antony Blinken unveiled the news during his working visit in Morocco which took place from March 28 – 30.

Morocco’s Minister of Foreign Affairs Nasser Bourita stressed in a press conference on the first day of the visit that such events testify to the notable partnerships between Morocco and the US in politics, security, military, and economy.

He also noted that such partnerships, which are based on shared values and common interest, expand to the Middle East and Africa as well.

Meanwhile Blinken said that the Morocco-US notable and cordial ties are a “good starting point” which encourages his country “to move towards more global partnerships with the African continent.”

Blinken arrived in Morocco on Monday for a three-days visit where he met with several Moroccan officials to discuss cooperation and bilateral ties with the country, as well as regional challenges.

During the visit, the US official also renewed his country’s commitment to continue supporting Morocco’s development reforms and territorial integrity, while considering the Moroccan Autonomy Plan as “the most serious and credible initiative” to solve the Western Sahara dispute.

During Blinken’s meeting with Head of Government Aziz Akhannouch, the pair pledged to further develop the two countries’ economic ties and encourage investment between the states.

Both countries also expressed satisfaction with US and Morocco trade cooperation, celebrating the benefits of the Free Trade Agreement (FTA).

Morocco and the US signed the FTA in 2004, which entered into force in 2006.

The two officials aim for the FTA to serve as a gateway for American companies to invest not only in Morocco, but in other African countries.

In 2020, the US exported $2.24 billion worth of goods to Morocco. The main products exported were refined petroleum ($333 million), petroleum gas ($292 million), and Aircraft Parts ($160 million), according to the Observatory of Economic Complexity (OEC).

US exports to Morocco have increased at an annual rate of 5.23% in the past two decades.

The value of Morocco’s exports to the US reached $1.13 billion in 2020.

The country’s main exports to the US in 2020 were mixed mineral or chemical fertilizers ($236 million), planes, helicopters, and spacecraft ($113 million), and processed fish ($75.8M) as the main products.