The objective of this study, conducted by the research companies Capital Consulting and Roland Berger on behalf of the Confederation of Moroccan Companies (CGEM), is to assess the results of these agreements and identify the opportunities for the private sector.

The first significant conclusion of the study is on the results of the Morocco-US FTA, which came into effect in January 2006: imports have almost tripled while exports still strugling.

Since the signing of the agreement, Morocco's exports to the US have grown only slightly: USD 443 million in 2005, USD 521 million in 2006 and USD 663 million in 2007, registering an annual growth of 22%.

Answering the question why the Moroccan companies do not benefit from these agreements, the study pointed out the problem of competitiveness in terms of prices, which is resulting from an unfavourable dirham/dollar exchange rate.

It also identified the weak productiveness, the higher production cost factors, compared to the country's competitors, the small size of Morocco's SMEs, and, most importantly, the lack of visibility concerning the American market, which pushes exporters to turn towards markets they most know, such as the European Union.

As to the Agadir accord, the situation is by no means better. Egypt benefits the most from this agreement, with 69% of trade between the accord's member countries in 2007.

In the same year, Moroccan imports from these countries stood at USD 563 million, while exports did not exceed USD 160 million, less than 1% of its overall exports.

Concerning the country's trade balance, the study found that it has seen a sustainable deterioration since 2003. Until 2006, services, foreign direct investments and MRE's transfers secured some equilibrium.

But since 2007, things have changed, as a result of the international financial crisis. Between 2007 and 2008, the trade deficit went up from MAD 135.8 billion to MAD 167.8 billion, arise of 23.5%. In 2008, the situation got even worse.

To confront this situation, the Moroccan Centre for the Promotion of Exports (CMPE) had adopted a new action plan for the year 2009.

The plan, which was elaborated with the help of a specialised agency, is mainly based on improved communication and public relations. The first action in this respect is changing the centre's logo to “Maroc Export”.

It is based on three points: sector-based promotion, new marketing strategy and finding new niches. It features some 61 promotional events, including specialised and multi-sectoral exhibitions, trade missions and B to B missions, besides Maroc Trade operation.