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Capitalizing on the Morocco-US Free Trade Agreement: A Road Map for Success (Policy Analyses in International Economics)

ISBN: 9780881324334
Publisher: Peterson Institute for International Economics
Edition: Policy Analysis 88
Publication Date: 2009-09-03
Number of pages: 128
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Morocco continues to struggle with unemployment, faltering levels of competitiveness, and a lack of diversity in its economy. And, despite efforts to improve trade both at the border and within the country itself, shortcomings of the US-Morocco Free Trade Agreement (FTA) weaken its intended economic results. What missteps have been made and how should they be renegotiated in the future? Where has the implementation failed and what additional steps should the US and European Union take in order to boost Moroccan industries? Morocco-US Free Trade Agreement: An Assessment makes recommendations to capitalize upon underexploited elements of the agreements and ultimately offers a promising direction for new provisions. Precise and thorough, the volume first references other countries experiences with a US FTA as a basis for retooling aspects of the Moroccan agreement. The study quantitatively and qualitatively analyzes the results of the US-Morocco FTA, which began in 2006, compared with the US FTAs with Chile and Jordan. The authors use a standard, gravity-model analysis of US two-way trade to determine if trade falls short of or exceeds predicted levels. Notably, this study looks at why Chile and Jordan perceived respective US FTAs as a boon to the economy and assesses how these success stories are applicable to Morocco's unique position. Finally, the study focuses on sectors in which the agreement has proven advantageous, namely agriculture and textile, and examines other sectors in which the outcome is still unclear: services and intellectual property. Based upon the substantive framework of these case studies, the authors suggest reforms that the Moroccan government should use to leverage a successful US-Morocco Free Trade Agreement.

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