Morocco and United States signed three memorandums of understanding (MoU) in the fields of energy efficiency, trade promotion and innovative project grants on the sidelines of the fourth annual US-Morocco Trade Forum, held Thursday in Washington D.C.
The first agreement, signed by the Moroccan Agency for Energy Efficiency (AMEE) and the Institute for Governance and Sustainable Development (IGSD), aims to strengthen cooperation links in the research and development of environmental systems and air conditioning using reduced GWP refrigerants. Moreover, the partnership will identify ways to better calculate and compare the carbon dioxide equivalent between greenhouse gas emissions and those of fossil fuels used by air conditioners.
The second Memorandum, signed by the Moroccan Small Enterprise Assistance Funds (SEAF), the Central Guarantee Fund (CCG), the American Wise Capital, and BMCE Bank Group, aims to mobilize the resources of the Morocco Growth Fund (SMGF), an investment fund strategy that invests in innovative companies based in Morocco with strong growth potential.
The initiative plans to invest in “3Dental,” an innovative Moroccan company specializing in solutions for digital dental surgery. The company has developed a comprehensive surgical system based on a patented medical device, 3D surgical planning software, and 3D printing technology to help dentists perform dental implant surgeries in safer and less invasive conditions.
The third agreement revolves around the renewal of the MoU between the General Confederation of Enterprises of Morocco (CGEM) and the American Chamber of Commerce, through which the two organizations agreed to pursue their common objective of boosting bilateral trade relations.
On the basis of this MoU, the two partners pledged to promote business partnerships between Moroccan and US companies and to increase trade by taking advantage of the free trade agreement between the two countries.
Organized by Morocco’s embassy in the US and the U.S. Africa Business Center (USAF BC), the fourth annual US-Morocco Trade Forum strives to identify business opportunities and potential US investments in Morocco in sectors such as energy, industry, and finance.
The event featured speeches by Moroccan and American public and private sector leaders and provided an opportunity for participants to share experiences and determine a means of improving the business climate in the countries.
US-Morocco Trade Forum is an annual conference whose purpose centers on promoting trade and investment partnerships between Morocco and the United States. Previous successful forums were held in Dallas, Atlanta, and Seattle.