US Ambassador to Morocco Richard Duke Buchan met with Morocco’s Minister of Industry, Ryad Mezzour, on Monday, during which both sides discussed expanding partnerships across key sectors, including manufacturing and exports.
Highlighting the scale of opportunity, Buchan pointed to the historic relationship between both countries and Morocco’s growing appeal as an investment destination.
“Morocco offers boundless opportunities for US firms looking to invest and ensure both countries share in a more prosperous future,” he said.
The renewed engagement builds on the United States–Morocco Free Trade Agreement, which has underpinned trade relations since 2006. The agreement eliminates tariffs on more than 95 percent of consumer and industrial goods, making Morocco the only African country with such a deal with Washington.
According to the U.S. Department of State, Morocco has also signed dozens of investment and economic agreements globally to protect investors and prevent double taxation, further enhancing its attractiveness to foreign capital.
Despite these advantages, foreign direct investment (FDI) flows have fluctuated in recent years. Morocco attracted approximately $3.6 billion in FDI at its peak in 2018, before inflows fell to around $1.7 billion in 2019 and remained broadly flat in 2020, equivalent to about $1.7 billion in current terms.
Manufacturing continues to dominate inbound investment, particularly in high-growth sectors such as automotive, aeronautics, textiles, pharmaceuticals, and agro-processing. These industries are central to Rabat’s strategy to position itself as a regional industrial and financial hub linking Africa and Europe.
With tariff reductions set to continue through 2030, analysts say Morocco’s strategic location and policy framework could make it an increasingly attractive base for US firms seeking access to both African and European markets, particularly as global supply chains continue to shift.