AAFA and FEDIC sign MOU
The Moroccan Federation of Leather Industries (FEDIC) and the American Apparel and Footwear Association (AAFA) and have signed a memorandum of understanding (MOU) to strengthen cooperation between their organisations and to promote trade.
Under the terms of the MOU, the two organisations will maintain an open dialogue to improve bilateral footwear trade. The partnership will create an expanded network for trade solutions and aims to increase business opportunities.
FEDIC President Mohamed AMAIZ commented, “We consider that the signing of this MOU is the starting point for a long lasting relationship that will fruitfully yield results to the benefit of our industry members and contribute to the promotion of trade between The United States of America and the Kingdom of Morocco.”
Since the US–Morocco free trade agreement came into effect in 2006, bilateral trade has shown rapid growth. US exports to Morocco totalled almost $1.5 billion in 2008, up 31.1% compared with 2007 figures. Moroccan exports to the US increased nearly 44.1 percent from 2007 to just under $900 million in 2008.
