International Trade | Newsletter | WTCM

US – Morocco Free Trade Agreement signaled the promise of further development and facilitation of trade and commerce

Jun 24, 2020 3:04:10 PM / by Chris Mangos

For Miami International Airport (MIA), the signing of the US – Morocco Free Trade Agreement signaled the promise of further development and importantly, further facilitation of trade and commerce. Since that nation’s flag carrier airline, Royal Air Maroc (RAM), commenced service to Miami from Casablanca in 2019, trade figures have grown substantially at MIA.  During 2019, two-way air trade between Morocco and Miami grew 37 percent in volume and over 15 percent in value, amounting to $16.6 million in imports and exports, as compared to the previous year. Both imports and exports reveal a healthy mix of commodities both in the manufactured goods and high technologies arenas.  Exports included aeronautical equipment, scientific instruments, industrial and commercial machinery, as well as the presently booming commodities making up the pharmaceutical category of goods. 

From Morocco MIA received such leading goods as clothing, shoes, household consumer goods, art and antiques and telecommunications equipment.  Key to the MIA-Casablanca trade link is the geographic location of these commercial air hubs, with MIA’s ability to feed or draw from well over 100 Latin American/Caribbean destinations and reciprocally, Casablanca’s extensive network to/from North and West African connecting points.  MIA continues to work with RAM to not only support the new Miami-Morocco connection, but to further stimulate the direct and indirect synergies that can be derived from two continental connecting points collaborating jointly.  The Free Trade Agreement has eased the flow of goods, eased and reduced tariffs, and ultimately permitted an even larger array of products to connect via this new and promising trans-Atlantic air route.

Tags: Industry News, June 2020

Chris Mangos

Written by Chris Mangos