Brazil

The economy of Brazil is the world's sixth largest by nominal GDP. Brazil has moderately free markets and an inward-oriented economy. Its economy is the largest in Latin American nations and the second largest in the western hemisphere. Brazil is one of the fastest-growing major economies in the world with an average annual GDP growth rate of over 5 percent. In Brazilian reals, its GDP was estimated at R$3.143 trillion in 2009. The Brzailian economy has been predicted to become one of the five largest economies in the world in the decades to come. Brazil is a member of diverse economic organizations, such as Mercosur, Unasul, G8+5, G 20, WTO, and the Gairns Group. Its trade partners number in the hundreds, with 60 percent of exports mostly of munufactured or semimanufactured goods. Brazil's main trade partners in 2008 were: Mercosul and Latin America(25.9 percent of trade), EU(23.4 percent), Aisa(18.9 percent), the United States(14.0 percent), and other (17.8 percent).


The currency in Brazil is Brazil Real. Its sign is R$ and its ISO code is BRL. In 1994, it was meant to have approximately fixed 1:1 exchange rate with the United States dollar. It suffered a sundden devaluation to a rate of about 2:1 in 1999, reached almost 4:1 in 2002, then partly recovered and has been approximately 2:1 since 2006. The exchange rate as of June 15, 2012 is BRL 2.05 to USD 1.00.


According to the World Economic Forum, Brazil was the top country in upward evolution of competitiveness in 2009, gaining eight positions among other countries, overcoming Russia for the first time, and partially closing the competitiveness gap with India and China among the BRIC economies. Important steps taken since the 1990s toward fiscal sustainability, as well as measures taken to liberalize and open the economy, have significantly boosted the country's competitiveness fundamentals, providing a better environment for private-sector development. The owner of a sophisticated technological sector, Brazil develops projects that range from submarines to aircraft and is in volved in space research: the country possesses a satellite launching center and was the only country in the Southern Hemisphere to integrate the team responsible for the construction of the International Space Station(ISS). It is also a pioneer in many fields, including ethanol production.


The high-speed economic development of Brazil is not only closely related to its abundant natural resources but also related to its openness trading policy. Brazil is the member of : MERCOSUR,  CAN, ALADI, UNASUR, SELA, ECLAC, IDB, FEALAC, ASPA, OEA, United Nations, World Bank, International Monetary Fund, WTO, UNCTAD, OAS, CSN, CPLP, OEI, G8+5, Rio Group, BRIC..... 


From the organization above, Brazil gets a lot of benefits to its economy. It also can describe as "Brazil gets a lot of benefits from its openness trading policy."

US Morocco Free Trade Agreement

The United States and Morocco sign a Free Trade Agreement on June 15, 2004. The agreement entered into force on January 1, 2006. The United States-Morocco FTA is a comprehensive agreement that supports the significant economic and political reforms that are underway in Morocco and provides for improved commercial opportunities for U.S exports to Morocco by reducing and eliminating more than 95 percent of all goods and services. In addition to key U.S export sectors gaining immediate duty-free access to Morocco for increased regulatory transparency and the protection of intellectual property rights.



In addition, for agricutural, banking and insurance industry, Morocco took the protection period policy. It also refers that the materials of  textile exported from morocoo which must be used by U.S or Morocco produced. The issued relating to the definition of direct shipment and Morocco's application of tariff-rate quotas for wheat imports from the United States have arisen since the FTA's implementation. U.S.concerns with respect to these issues were raised at the first meeting of  the bilateral Joint Committee( the FTA's governing body) in March 2008, and at a number of other meetings, as well as in written exchanges before and after the Joint Committee meeting, including with respect to wheat, at the June 2008 meeting of subcommittee on Agricultural Trade.


Since the U.S.-Morocco FTA entered into force, there have been significant increases in bilateral trade- overall trade in goods between the Uniterd States and Morocco increased 148 percent between 2005 and 2008 from $927 million in 2005 to $2.3 billion in 2008. While bilateral trade has declined during 2009 due to golbal economic conditions, but it also has risen to $1.8 billion in 2011. U.S. goods exports in 2011 were $2.8 billion, up to 45 percent from the previous year.  Corresponding U.S. imports from Morocco were $996 million. Morocco is now the 55th largest export market for U.S. goods.

It's no doubt that this agreement spurs both U.S. and Morocco 's trading.