Basics by Free Trade Agreement: Morocco
How Does The FTA Affect Service Sectors?
Services represent 54 percent of Morocco's GDP. This is slightly less than the average for most developing countries. Morocco stated that one of its primary interests in concluding the Agreement was to improve the climate for investment from the United States. As such, the Agreement reinforces the on-going development of Morocco's legal and regulatory reforms and development plans for many sectors of interest to U.S. service providers: telecommunications, e-commerce, engineering and infrastructure services, environmental and energy services among them. Morocco, a developing country, has taken on the many fundamental commitments and obligations under the Agreement that will provide the basis for enhanced liberalization and opportunities for U.S. companies providing services as well as products. The Agreement provides a framework for transparency in Morocco's regulatory framework for services in three areas: standard setting; the regulatory application process; and judicial, arbitral, and administrative procedures. These reinforce services and investment reforms already underway in many services sectors by lowering, phasing out, or making more transparent barriers to services trade and inward investment. In effect, the Agreement institutionalizes international business law, accounting procedures and standards, opening Morocco up to increased U.S. business, direct investment, as well as agricultural and service sector exports. Hot Service Sectors Include:
• Telecom Services
• Financial Services (Banking, Insurance, and Securities)
• Tourism Infrastructure
• Housing and Construction
• Engineering and Consulting
• Legal Services
• Environmental Services
• Airport Ground Support and Security
• Franchising
• Energy Services
• Education
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