Congress passes U.S.-Morocco free trade agreement

Congress passes U.S.-Morocco free trade agreement    The House passed legislation July 22 implementing the U.S.-Morocco free-trade agreement, following the passage of similarly worded legislation by the Senate July 21.
   The agreement will eliminate tariffs on 95 percent of U.S.-Morocco trade in industrial and consumer goods. It also lowers barriers for agricultural products and services such as banking and insurance. The agreement is expected to boost trade between the countries, which is estimated at $854 million a year.
   U.S. trade representative Robert Zoellick said the agreement “signals our commitment to deepening America’s relationship with the Middle East and North Africa.”
   Industry groups also praised Congress’ action. According to the Washington-based American Farm Bureau Federation, the agreement is expected to generate a “10-to-one gain” for U.S. agriculture, which already has a positive trade balance with Morocco.
   “Other positive results of the agreement include Morocco’s willingness to accept U.S. inspection standards for beef and poultry and an ‘automatic upgrade’ provision that grants the United States market access to provisions that will be at least as good as any future agreements Morocco may form with other countries,” said Farm Bureau president Bob Stallman in a statement.
   The U.S.-Morocco free trade agreement legislation has now been sent to President Bush for signature into law.