"Today’s vote of 85 to 13 by the Senate to approve a U.S.-Morocco Free Trade
Agreement expands our economic relationship with one of America’s oldest
friends.
"This agreement is a boon for America’s manufacturers and farmers. On the
first day that the U.S.-Morocco Free Trade Agreement goes into effect, 95
percent of the two-way trade in industrial and consumer products will be without
tariffs. U.S. farmers will also find additional opportunities, especially in
grains and meat products. And Morocco has made broad commitments to open its
service sector, creating new opportunities for U.S. banking, insurance,
telecommunications, and technology companies.
"I would especially like to thank Senators Grassley and Baucus for their
leadership. Their efforts to shepherd this agreement through the Senate was
invaluable.
"This free trade agreement with Morocco, our first with an African country
and our second with an Arab country, signals our commitment to deepening
America’s relationship with the Middle East and North Africa. It is another
major step forward in implementing President Bush’s plan for a Middle East Free
Trade Area, building on our existing agreements with Israel, Jordan. And we look
forward to entering into an FTA with Bahrain in the near future.
"Free trade is on offense, and the cause of open markets is now advancing on
all fronts. In the last twelve months, Congress has approved four new free trade
agreements, all with large bipartisan majorities. Working together with
Congress, the Administration is putting Trade Promotion Authority to good use
and America is at the forefront of the global move toward expanded trade.
"We have completed agreements with twelve countries, and are negotiating with
ten others. These new and pending FTA partners, taken together, would constitute
America’s third largest export market and the sixth largest economy in the
world. America also has led efforts to advance the Doha Development Agenda of
the WTO this year. To open new markets for America’s workers and farmers, this
Administration will be persistent in every negotiation, relentless in enforcing
every agreement, and active in seeking out new opportunities in every region of
the world."
Background
This Administration has completed free trade agreements with Chile, Jordan,
Singapore, Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Australia,
Morocco, the Dominican Republic, and Bahrain.
The United States is currently negotiating free trade agreements with Panama,
Colombia, Ecuador, Peru, Thailand and with the five nations of the Southern
African Customs Union (SACU) – Botswana, South Africa, Lesotho, Swaziland and
Namibia.
In addition to negotiating FTAs, the United States will continue to
aggressively press for global free markets through the World Trade Organization
and for hemispheric openness, through the creation of a Free Trade Area of the
Americas.
