Pre-registration is now open for the SelectUSA Business Summit, scheduled to take place from June 23 to 26 at National Harbor in the state of Maryland. Ten Moroccan companies seeking to enter the American market have already pre-registered. To those who have not yet done so, the Consul General of the United States in Casablanca has these messages.
Just over a month before the 10th edition of the SelectUSA Investment Summit 2024, the U.S. Consul General in Casablanca, Marissa Scott, held a press conference on May 14 at Dar America in Casablanca to highlight the importance of this event to business leaders and Moroccan startups.
During this conference, the diplomat granted an interview to L’Observateur du Maroc, Pouvoirs d’Afrique, and Powers of Africa. She emphasized the necessity for Moroccan entrepreneurs, both men and women, to explore the immense American market of 332 million consumers, by entering through SelectUSA. Representatives from all 50 American states will be present to showcase the benefits they offer to attract investors. "Starting by conquering the market of one of these states is the best way for Moroccan exporters and investors to go further in the American market," advised Marissa Scott, acknowledging that the vastness of this market might seem daunting at first glance.
"There is room for everyone," assured Shakir Farsakh, the Principal Commercial Attaché. He emphasized that companies of all sizes, including startups, have their place at SelectUSA. According to official figures provided at the conference, this event has helped generate over $200 billion in confirmed investments. Last year alone, SelectUSA supported over 10,000 unique clients in their ventures.
Some Moroccan investors have already set foot in the USA. While their exact number was not specified, their success shows that the American dream is accessible to Moroccan entrepreneurs. Exporters, particularly of citrus fruits and handicrafts, have also successfully conquered the American market.
"Morocco is the only African country with a free trade agreement with the United States," reminded the Consul General, noting that bilateral trade relations have seen an upward trend in terms of volume and diversification. She cited a record figure of over $7 billion achieved in 2023, according to the Moroccan Exchange Office. "Today, the Summit is another catalyst to further strengthen sustainable commercial ties between our two nations," she affirmed.
From an institutional perspective, the Consul General announced the participation of the Minister Delegate in charge of Investment, Convergence, and the Evaluation of Public Policies, Mohcine Jazouli, at SelectUSA. The diplomat believes that the anticipated exchanges between Jazouli and American ministers, officials, and entrepreneurs could open new avenues in the Moroccan-American partnership. "A win-win partnership," she concluded, noting that over 150 American companies already operate in Morocco.
Marissa Scott has a deep affection for Morocco, and her eyes light up when she talks about it. Drawing from her personal knowledge of Morocco, which she first discovered twenty years ago before returning to take up her consular duties nine months ago, she expressed her admiration for the profound transformations the kingdom has undergone. Highlighting the positive effects of the 2022 World Cup and the upcoming 2030 World Cup, she described Morocco as a success story and invited Moroccan entrepreneurs to come and share it at SelectUSA.
Special Call to Women Entrepreneurs and Startups
SelectUSA Tech offers a program for female founders, entrepreneurs, and international tech executives called Select Global Women in Tech (SGWIT), as highlighted by the Consulate General. It was also noted that the SelectUSA Tech Startups program assists eligible tech startups developing innovative tech products or services that plan to expand into the U.S. market within the next 2 to 3 years.