Senate approves

U.S.-Morocco trade deal

(DTN)--The U.S. Senate on July 21 approved a free trade agreement with Morocco. U.S. Trade Representative Robert Zoellick said in a press release the 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.

"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." 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.