The US-Morocco Free Trade Agreement (MAFTA) was signed in 2004 to strengthen commercial relations between the two nations. A recent report by the Washington Institute for Near East Policy evaluates the impact of MAFTA since its implementation.
Since 2006, bilateral trade between the US and Morocco has quadrupled to $5.5 billion in 2023. However, a growing trade imbalance suggests that the full economic potential of MAFTA has not been realized. Morocco’s trade deficit with the US has also increased over the years.
While Morocco’s economic growth has been independent of MAFTA, the kingdom has attracted investments in niche markets like electric vehicle batteries. China now leads in investments in Morocco, posing a challenge for US involvement.
Despite its shortcomings in achieving economic goals, MAFTA has maintained a strong bilateral relationship. The report suggests the US should focus on supporting Morocco’s economic growth through sectors like light manufacturing and expanding English-language training opportunities.
Overall, MAFTA continues to play a crucial role in the US-Morocco relationship, serving both political and strategic interests.