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President Bush Moves To Implement U.S.-Morocco Free-Trade Pact Agreement to take effect January 1, 2006By David Shelby Washington File Staff Writer Washington -- In anticipation of the January 1, 2006, entry into force of the U.S.-Morocco Free Trade Agreement, President Bush issued a proclamation December 22 on adjusting tariffs on imports from Morocco and authorizing the commerce secretary to take actions to support the implementation of the pact. Signed in June 2004, the U.S.-Morocco pact immediately will eliminate import tariffs on more than 95 percent of bilateral trade in consumer and industrial products, with a gradual reduction of remaining tariffs over a nine-year period. It also will create new opportunities for trade in services and agricultural products, according to the Office of the U.S. Trade Representative (USTR). (See related article) Under the agreement, Morocco will gain unlimited access to the U.S. textile market for all products adhering to the rules of origin, which state that all fibers, yarn and fabric used in textiles must be produced in Morocco or in the United States. Since the Moroccan yarn industry still is weak, a provision in the agreement allows for a temporary increase in the quota of allowable textile imports to the United States containing inputs from other countries........ |
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