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Overview
Morocco continues to struggle with unemployment, faltering levels of competitiveness, and a lack of diversity in its economy. 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. How has the implementation failed and what additional steps should the US and European Union take to boost Moroccan industries? In Capitalizing on the Morocco-US Free Trade Agreement, a stellar cast of authors recommends capitalizing upon underexploited elements of the agreement and ultimately offers a promising direction for new provisions.With careful precision and thoroughness, this volume cites other countries' experiences with US FTAs as touchstones 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 and determine if trade falls short of or exceeds predicted levels. Notably, this study looks at why Chile and Jordan perceived US FTAs as a boon to the economy and applies these success stories to Morocco's economic position.
Finally, the study focuses on sectors in which the agreement has worked successfully, namely agriculture and textile sectors, 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 can enforce to leverage a valuable US-Morocco Free Trade Agreement.
Synopsis
Morocco continues to struggle with unemployment, faltering levels of competitiveness, and a lack of diversity in its economy. 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. How has the implementation failed and what additional steps should the US and European Union take to boost Moroccan industries? In Capitalizing on the Morocco-US Free Trade Agreement, a stellar cast of authors recommends capitalizing upon underexploited elements of the agreement and ultimately offers a promising direction for new provisions.
With careful precision and thoroughness, this volume cites other countries' experiences with US FTAs as touchstones 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 and determine if trade falls short of or exceeds predicted levels. Notably, this study looks at why Chile and Jordan perceived US FTAs as a boon to the economy and applies these success stories to Morocco's economic position.
Finally, the study focuses on sectors in which the agreement has worked successfully, namely agriculture and textile sectors, 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 can enforce to leverage a valuable US-Morocco Free Trade Agreement.