RESTRICTED  WORLD TRADE  
ORGANIZATION  TN/S/O/MAR 
24 June 2005 
 (05-2693) 
Council for Trade in Services 
Special Session Original:   French 
 
 
 
MOROCCO 
 
Initial Offer  
 
 
 The following initial offer was received from the Delegation of Morocco on 15 June 2005 
with the request that it be circulated to Members of the Council for Trade in Services. 
 
_______________ 
 
 General remarks
: 
 
 Morocco hereby submits its initial offer in the framework of the ongoing negotiations on 
trade in services, pursuant to the mandate of Ar ticle XIX of the General Agreement on Trade in 
Services (GATS) on "Negotiation of Specific Commitm ents", paragraph 15 of the Doha Declaration 
of 14 November 2001 and the Decision adopted  by the General Council on 1 August 2004. 
  This offer has been prepared after careful consideration of the requests submitted by WTO 
Members. The offer includes the Schedule of Specific Commitments (horizontal and sectoral), the List of Article II (MFN) Exemptions and the Reference Document for the offer on telecommunications services. 
 
1. The editorial conventions used in this initia l offer follow the guidelines established by the 
WTO Secretariat in JOB(02)/88, i.e.:  
 Bold :  new text, 
 Strike -out:  deleted text, 
 Italics :  where any new or deleted text constitutes merely a technical refinement that 
does not alter the scope or the subs tance of an existing commitment. 
 
2. This initial offer is not a legal text and is su bmitted solely for the purpose of negotiation in the 
context of paragraphs 47 and 49 of the Doha Ministerial Declaration,  especially in the light of the 
need to achieve an overall balance in the ou tcome of the World Trade Organization (WTO) 
negotiations. 
3. This initial offer is conditional and is depe ndent on other WTO Members making substantive 
and satisfactory offers in areas of interest to Morocco in the framework of the Doha Development 
Programme, as well as credits granted to liberalizi ng measures undertaken autonomously by Morocco.  
This offer does not prejudge Morocco’s final pos ition on the outcome of the ongoing negotiations on 
trade in services and the overall negotiati ons under the Doha Work Programme.  
4. Morocco reserves the right to modify or withdraw, fully or partially, its offer at any time prior 
to the conclusion of the negotiations.  Morocco fu rther reserves the right to make at any time any TN/S/O/MAR 
Page 2  
 
 technical rectifications or amendments of any e rrors, omissions or inaccuracies for the purpose of 
further clarification of the terms and conditions in this offer. 
5. Morocco is submitting this initial offer as proof of  its commitment to making a contribution to 
the progressive liberalization of trade in services, with the aim of meeting its economic development 
objectives and achieving increasing participation in trade in services. 
6. In accordance with the Guidelines and Procedur es for the Negotiations on Trade in Services, 
adopted by the Council for Trade in Services on 28 March 2001 (S/L/93), Morocco will continue to take part in the ongoing negotiating process through the submission of requests in the bilateral, 
plurilateral and/or multilateral spheres. 
  
  TN/S/O/MAR
 Page 3 
Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons 
Sector or subsector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
I. HORIZONTAL COMMITMENTS  
 Exchange regulations:  
 
 Morocco assumes the 
obligations stemming from 
its accession to Article VIII 
of the IMF  Articles of 
Agreement on 
21 January  1993  (1), (2) None except for certain operations in financial  
services requiring authorization under the exchange 
regulations  
(3) None  
(4) Natural persons of fore ign nationality having 
resident status may freely transfer up to 50 per cent 
of their savings from income such as wages, 
salaries and other remuneration, f ees, profits from 
professional activities, and pensions.  
 (1), (2) None  
 
 
(3) None  
(4) None  
  
 Movement of natural persons  (4) Unbound, except for personnel employed by a 
company and transferred to a company 
incorporated in Morocco belonging to, controlled 
by or a subsidiary of the former, in the following categories: 
 
- Managers - Senior executives 
- Specialists who possess knowledge that is essential 
to the provision of the service 
 
 Issuance of a work permit is subject to the signing 
of a contract of employment. 
 
- Sales agents (stay limited to 90 days)  (4) None 
   
 TN/S/O/MAR 
Page 4 Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons 
Sector or subsector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
II. SECTOR-SPECIFIC COMMITMENTS  
1. BUSINESS SERVICES    
A. Professional services     
(b) Accounting, auditing and 
bookkeeping services 
 (CPC 862) (1) Unbound 
(2) Unbound (3) Participation of foreign capital limited to 25 per 
cent 
(4) Moroccan nationality required  (1) Unbound 
(2) Unbound (3) None 
(4) Unbound  
(e) Engineering services  
 (CPC 8672) 
 (1) Unbound 
(2) Unbound (3) A foreign enterprise es tablished in Morocco must 
associate Moroccan enterpri ses through any form of 
association (joint venture, subcontracting, etc.) in the provision of engineering services. 
(4) Unbound, except as indicated in the horizontal 
section 
 (1) Unbound 
(2) Unbound (3) None 
(4) Unbound  
(f) Integrated engineering 
services  
 - for transportation 
infrastructure turnkey 
projects   
 (CPC 86731)  
- for the construction of 
manufacturing turnkey projects   
 (CPC 86733) 
 (1) Unbound 
(2) Unbound (3) A foreign enterprise established in Morocco 
must associate Moroccan enterprises through any form of association (joint venture, subcontracting, etc.) in the provision of construction and engineering services. 
(4) Unbound, except as indicated in the horizontal 
section 
 (1) Unbound 
(2) Unbound (3) None (4) Unbound 
   
  TN/S/O/MAR
 Page 5Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons 
Sector or subsector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
B. Computer and related 
 services  
 CPC 841 
 
 
 (1) Unbound 
(2) Unbound (3) None (4) Unbound, except as indicated in the horizontal 
section 
 (1) Unbound 
(2) Unbound (3) None (4) Unbound   
F. Other business services     
(c) Management consulting 
services 
 (CPC 865) (1) Unbound 
(2) Unbound 
(3) None 
(4) Unbound, except as indicated in the horizontal 
section 
 (1) Unbound 
(2) Unbound 
(3) None 
(4) Unbound  
(k) Placement and supply 
services of personnel 
 (CPC 872) (1) Unbound 
(2) Unbound 
(3) None 
(4) Unbound, except as indicated in the horizontal 
section 
 (1) Unbound 
(2) Unbound 
(3) None 
(4) Unbound   
 TN/S/O/MAR 
Page 6 Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons 
Sector or subsector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
(m) Related scientific and 
technical consulting 
services  
 Only for mining services 
involving: 
- Geological, geophysical 
and technical prospecting 
services (CPC 86751), and 
- Subsurface surveying 
services (CPC 86752). 
 
Other than: services involving prospecting for and mining 
phosphates and hydrocarbons 
as well as all lead, zinc and baryte mining in the Tafilalet 
and Figuig mining regions. 
 Phosphate prospecting and 
mining are under a State 
monopoly. 
 (1) Unbound 
(2) Unbound 
(3) -
 A mining title covers an area of 16 Km2. 
  - Restriction on the number of mining titles 
  to 16 and on total surface exploitation to  
  25,000 hectares.  
 
  
(4) Unbound, except as indicated in the horizontal 
 section 
 (1) Unbound 
(2) None 
(3) - Priority given to applications for mining   titles. 
 - Applicants for prospecting permits are 
  required to establish domicile in    Morocco. 
 - The services of a geologist must be 
  contracted where four or more mining   titles are involved. 
(4) Unbound    
  TN/S/O/MAR
 Page 7Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons 
Sector or subsector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
2. COMMUNICATION 
 SERVICES 
    
A. Postal services 
 (CPC 7511) (1) Unbound 
(2) Unbound (3) Unbound 
(4) Unbound, except as indicated in the horizontal 
 section. 
 (1) Unbound 
(2) Unbound (3) Unbound 
(4) Unbound   
B. Courier services 
 (CPC 7512) 
- Accelerated international 
 mail services  (1) Commercial presence req uired:  only operators 
that already have a co mmercial presence may 
also offer services under mode 3. 
(2) None 
(3) Subject to authorization by the government 
authority responsible for postal services 
(4) Unbound, except as indicated in the horizontal 
section. 
 (1) None 
(2) None 
(3) None 
(4) Unbound    
 TN/S/O/MAR 
Page 8 Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons 
Sector or subsector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
C. Telecommunication services  
 
(Not including the broadcasting of radio and 
television programmes for 
the general public) 
   Reference document 
annexed to this initial offer.
 
 
 
(a) Point-to-point voice 
telephone services 
(o) Circuit-switched data 
transmission services 
(d) Telex services 
(o) Integrated service data 
network (ISDN)  (1) Possibility through the IAM1  national  public 
telecommunications networks  authorized to 
supply this kind of service . 
(2) None 
(3) These services will remain an IAM2 monopoly 
until 31  December 2001.  
Presence of three licensed operators in each of 
the following sectors: local loop, national 
transport and international transport.  The three-operator restriction does not apply to the 
supply of universal services, as defined and 
provided for in Moroccan law and regulations.
 
Foreign participation in the capital of IAM2:  
unbound  
(4) Unbound, except as indicated in the horizontal 
section. 
 (1) None 
 
 
(2) None 
(3) Unbound 
  
 
 
 
  
 
 
(4) Unbound, except as indicated in the horizontal 
section. 
  
                                                      
1 IAM:  Itissalat Al-Maghrib .  
  TN/S/O/MAR
 Page 9Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons 
Sector or subsector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
(b) Packet-switched data 
transmission services 
 (
o) Frame relaying services  (1) Commercial presence required:  only operators 
that already have a commercial presence may also 
offer services under mode 1.  
 Possibility for an authorized operator to supply 
this kind of service through the public 
telecommunications networks. 
(2) None 
(3) Subject to an establis hment and operating licence 
if the operator installs his own transmission infrastructure. 
 Subject to declaration if transmission capacity is 
leased to other operators authorized in this respect 
if the service is on the list of value-added services.  
(4) Unbound, except as indicated in the horizontal 
 section.  (1) None 
(2) None 
(3) Unbound (4) Unbound, except as indicated in the horizontal 
section. 
  
(g) Private leased circuit 
services 
 (1) Commercial presence required:  only operators 
that already have a comm ercial presence may also 
offer services under mode 1.  
(2) Necessary utilization of available capacities of 
existing public telecommunication networks  None 
(3) None (4) Unbound, except as indicated in the horizontal 
 section.  
 (1) None 
(2) None 
(3) Unbound (4) Unbound, except as indicated in the horizontal 
section. 
   
 TN/S/O/MAR 
Page 10 Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons 
Sector or subsector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
(o) Mobile telephone services 
 
(o) Paging services  
(
o) PCS (Personal 
Communications Services)  
 
(o) Mobile data transmission 
services  
 (1) Commercial presence required:  only operators 
that already have a commercial presence may 
also offer services under mode 1.  
 An operator authorized by virtue of his licence 
may offer services under mode 1. 
(2) None (3) 
Reserved for ope rators selected by a public 
tendering procedure, in accordance with Agence 
Nationale de Réglementation des 
Télécommunications (National 
Telecommunications Regulatory Agency) 
specifications.  
 Subject to a public telecommunications network 
establishment and operating licence if the operator 
installs his own network or own part of the network. 
 Reserved for operators selected by a tendering 
procedure. 
 Presence of three operators each holding a 
mobile services licence . 
(4) Unbound, except as indicated in the horizontal 
 section. 
 (1) None  
(2) None 
(3) Unbound (4) Unbound, except as indicated in the horizontal 
 section. 
   
  TN/S/O/MAR
 Page 11Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons 
Sector or subsector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
(o) Very Small Aperture 
Terminal (VSAT) 
services 
 
(o) Global Mobile Personal 
Communications System (GMPCS) 
 (1) An operator authorized  by virtue of his licence 
 may supply services under mode 1. 
(2) None (3) Subject to licensing 
(4) Unbound, except as indicated in the horizontal 
 section. (1) None  
(2) None 
(3) Unbound (4) Unbound, except as indicated in the 
 horizontal section. 
  
(h) Value-added services2 
(excluding telephone and 
telex) 
 (CPC 7523) 
 1. Electronic mail  2.  Voice mail 
 3. On-line information and 
  database retrieval  4. Electronic data exchange 
 5. Enhanced/value-added 
 facsimile services, including store and 
forward and store and 
retrieve 
 (1) None  
(2) None 
(3) Fourniture du service par le biais du réseau 
exploité par l`opérateur public.  des réseaux 
publics nationaux de télécommunications 
autorisés. Provision of service through the 
network operated by th e public operator  
authorized national public telecommunications 
networks.   
 Subject to a declaration before  the ANRT3 . 
(4) Unbound, except as indicated in the horizontal 
section.  (1) None  
(2) None 
(3) None 
(4) Unbound, except as indicated in the horizontal 
 section. 
  
                                                      
2 The government telecommunications authority, at the suggestion of the ANRT, may amend or supplement the list of value-added se rvices established hereunder. 
3 ANRT:  Agence Nationale de Réglementation des Télécommunications (National Telecommunications Regulatory Agency)  
 TN/S/O/MAR 
Page 12 Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons 
Sector or subsector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
3. CONSTRUCTION 
 SERVICES  
 CPC 51: all classes  
CPC 52: all classes 
 (1) Unbound 
(2) Unbound 
(3) A foreign enterprise es tablished in Morocco must 
associate Moroccan enterpri ses through any form of 
association (joint venture, subcontracting, etc.) in 
the provision of construction services. 
(4) Unbound, except as indicated in the horizontal 
section 
 (1) Unbound 
(2) Unbound 
(3) None (4) Unbound  
4.  DISTRIBUTION 
SERVICES  
    
B. Wholesale trade services, 
other than large-scale 
stores (supermarkets, hypermarkets, etc.) and 
used goods 
 - Wholesale trade services of 
motor vehicles 
 (CPC 61111)  
- Sales of parts and 
accessories of motor vehicles 
 (CPC 61130) 
 - Sales of motorcycles and 
snowmobiles and related 
parts and accessories 
 (CPC 61210) 
  
 
  
 
  
 
(1) None (2) None 
(3) None 
(4) Unbound, except as indicated in the horizontal  section. 
  
 
  
 
  
 
(1) None (2) None 
(3) None 
(4) Unbound 
   
  TN/S/O/MAR
 Page 13Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons 
Sector or subsector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
- Wholesale trade services 
of textiles, clothing and 
footwear 
 (CPC 6223) 
 
-  Wholesale trade services 
of household appliances, 
articles and equipment 
  (CPC 6224), not including 
wholesale trade services of 
household articles and 
equipment n.e.c. 
  (CPC 62249) (1) None 
(2) None 
(3) None (4) Unbound, except as indicated in the horizontal 
 section. 
 (1) None 
(2) None 
(3) None (4) Unbound 
 
  
C. Retailing services, other 
than large-scale stores 
(supermarkets, hypermarkets, etc.) and 
used goods 
    
-  Retail sales of motor 
vehicles (CPC 61112) 
 
- Sales of parts and 
accessories of motor 
vehicles (CPC 61130) 
 
- Sales of motorcycles and 
snowmobiles and related 
parts and accessories 
 (CPC 61210) (1) None 
(2) None 
(3) None (4) Unbound, except as indicated in the horizontal 
 section. 
 
 
 
 (1) None 
(2) None 
(3) None (4) Unbound 
 
   
 TN/S/O/MAR 
Page 14 Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons 
Sector or subsector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
- Retail sales of textiles, 
clothing, footwear and 
leather goods 
 (CPC 6322) 
 
- Other non-food retailing 
services: 
 
- Retail sales of cleaning 
materials, wallpaper and 
floor coverings 
 (CPC 63291)  
- Retail sales of watches, 
clocks and jewellery 
 (CPC 63292) 
 
-  Retail sales of sports goods 
(incl. bicycles) 
(CPC 63293) 
 
- Retail sales of games and 
toys 
 (CPC 63294) 
 (1) None 
(2) None 
(3) None (4) Unbound, except as indicated in the horizontal 
 section. 
 (1) None 
(2) None 
(3) None (4) Unbound 
  
6. ENVIRONMENTAL 
SERVICES 
 (CPC 940) (1) Unbound 
(2) Unbound 
(3) None (4) Unbound, except as indicated in the horizontal 
 section 
 (1) None 
(2) None 
(3) None (4) None 
   
  TN/S/O/MAR
 Page 15Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons 
Sector or subsector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
7. FINANCIAL SERVICES 
 
1.  Commitments in financial services are un dertaken pursuant to the Gen eral Agreement on Trade in Services and the Annex thereto  on Financial Services. 
 
2.  Concessions to supply financial services under mode 3 (commercial presence) are granted on a reciprocal basis. 
 
3.  Morocco maintains exchange controls on certain capital movements. The supply  of certain financial s ervices is unbound for m odes 1 and 2 owing to the restrictions 
and authorization requirement laid down in the foreign exchange regulations where such  services are by nature capital transacti ons within the meaning of Article VIII 
of the IMF Articles of Agreement.  
4. The supply of banking and other financia l services, insurance services, securities intermediary services  or insurance interm ediary services is subject to approval 
under existing Moroccan laws and regulations.  
5.  Any change in the control of an institution providing financial services is subject to further approval or authorization.  
 6. There are no restrictions on the establis hment of credit institutions , insurance and reinsurance companies and insurance and  reinsurance intermediaries. The 
opening of branches, agencies, windows or representative offices of credit institutions is authorized subject to compliance wit h existing laws and regulations.  
 
7.  Limitations exist on the participation of foreign capital in the capital of the large existing banking establishments where  such participation would lead to the takeover of the 
establishments.  
 
8.  With regard to modes of supply 1 and 2, the absence of any limitation does not signify a commitment by Morocco to allow non -resident service suppliers to solicit 
business or to conduct active mark eting in national territory. 
 
9.  Insurance companies must be constitu ted under Moroccan law. The reinsurance plans of all insurance companies are subject bo th to prior control and to a 
posteriori  control of their implementation. Such plans are required to provi de for compulsory legal cession of a maximum of 10 per cent o f the portfolio to the Société 
Centrale de Réassurances - S.C.R. (Central Reinsurance Company)  and of five per cent of each agreement to the Société Africaine  de Réassurances - Africa-Ré (African 
Reinsurance Corporation).
 
 
10.  Reinsurance companies must be constituted under Moroccan law. The market is subject to compul sory legal reinsurance with t he S.C.R. of 10 per cent of all 
premiums issued and to compulsory sharing with the company Africa-Re (five per cent of each agreement). 
 11.  The stock exchange listing of companies which do not have their headquarters in Morocco requires the authorization of the finance minister. Brokerage of 
securities listed on the Casablanca Stock Exchange is reserved for stockbroking co mpanies constituted under Moroccan law. 
  
 TN/S/O/MAR 
Page 16 Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons 
Sector or subsector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
A. Insurance and reinsurance 
and related  services  
 (i) Direct, life and non-life  
insurance 
 (CPC 812**)  
 
  
(ii) Reinsurance  
 Exclusive contract 
 (CPC 81299) 
 
  
 
  
 
(iii)  Insurance broking and 
agency services 
 (CPC 81401)   
 
  
(1) Unbound 
(2) Unbound (3) Obligation to have a registered pla
ce of business in 
Morocco . None  
(4) Unbound, except as indicated in the horizontal 
section. 
 
(1),(2) Establishment of a reinsurance plan in the 
framework of the existing regulations on insurance, 
reinsurance and exchange, and subject to cession of 
operatio ns to the national body responsible for 
reinsurance . None  
(3) None 
(4) Unbound, except as indicated in the horizontal 
section. 
 
(1) Unbound, except with regard to reinsurance 
brokerage. 
(2) Unbound (3) Legal persons acting as intermediaries must be 
constituted under Moroccan law with at least 50 
per cent of their capital held by Moroccans.   Natural persons acting as intermediaries must 
be Moroccan nationals. 
(4) Unbound, except as indicated in the horizontal 
section. 
  
 
  
(1) None 
(2) None (3) None 
 
(4) None  
 
(1) None (2) None 
(3) None 
(4) None  
 
  
 
 
(1) None 
(2) None (3) None 
(4) None    
  TN/S/O/MAR
 Page 17Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons 
Sector or subsector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
B. Banking and other financial 
services other than insurance  
 (v) Acceptance of deposits and 
other repayable funds from 
the public 
 (CPC 81115 -81119)b)  
 
  
(1) Unbound 
(2) Unbound (3) None, except as indicated in the horizontal section 
relating to financial services.  
(4) Unbound, except as indicated in the horizontal 
section. 
  
 
  
(1) None 
(2) None (3) None 
(4) None 
  
(b), Lending to finance 
investment in Morocco  
 (CPC  8113 + 712 2)b) 
 
 (1) None  
(2) Unbound  
(3) None, except as indicated in the horizontal section 
relating to financial services.  
(4) Unbound, except as indicated in the horizontal 
section.  
 (1) None 
(2) None (3) None 
(4) None  
(c) Lending to finance 
commercial transactions 
with Morocco  
 (CPC  8113*)  (1) None  
(2) Unbound  
(3) None, except as indicated in the horizontal section 
relating to financial services.  
(4) Unbound, except as indicated in the horizontal 
section.  
 (1) None 
(2) None 
(3) None 
(4) None  
(d) Other lending, including 
consumer credit and credit 
cards  
 (CPC 8113*)  
 (1) Unbound  
(2) Unbound  
(3) None, except as indicated in the horizontal section 
relating to financial services.  
(4) Unbound, except as indicated in the horizontal 
section.  
 (1) None 
(2) None 
(3) None (4) None   
 TN/S/O/MAR 
Page 18 Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons 
Sector or subsector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
(vi) Lending of all types, incl.,  
 inter alia , consumer credit, 
mortgage credit, factoring and financing of 
commercial transactions  
 (CPC 8113)  (1), (2) None for lending to legal persons to finance 
investments in Morocco or foreign commercial 
transactions with Morocco, including factoring.  
 Unbound for natural persons.   
 Moroccans studying abroad are, however, 
authorized to obtain credit from foreign banks.  
 Unbound for the other categories of lending, 
including consumer credit  and mortgage credit. 
(3) None, except as indicated in the horizontal section 
relating to financial services . 
(4) Unbound, except as indicated in the horizontal 
section. 
 (1) None 
(2) None 
(3) None (4) None  
(vii) Financial leasing 
 (CPC 8112) (1) Unbound 
(2) Unbound 
(3) None, except as indicated in the horizontal section 
relating to financial services . 
(4) Unbound, except as indicated in the horizontal 
section. 
 (1) None 
(2) None 
(3) None  
(4) None 
  
(viii) All payment and money 
transmission services, including credit, payment 
and similar cards, travellers' 
cheques and cheques 
  (CPC 81339**) 
 (1) Unbound 
(2) Unbound (3) None, except as indicated in the horizontal section 
relating to financial services . 
(4) Unbound, except as indicated in the horizontal 
section. (1) None 
(2) None (3) None 
 
(4) None    
  TN/S/O/MAR
 Page 19Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons 
Sector or subsector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
(ix) Guarantees and 
commitments 
 (CPC 81199**)  1) None for lending to legal persons to finance 
investments in Morocco or foreign commercial 
transactions with Morocco, including factoring. 
 Unbound for the other categories of lending, 
including consumer credit and mortgage credit, and 
retention bonds issued to foreign enterprises. 
2) Unbound   None for lending to legal persons to 
finance investments in Morocco or foreign 
commercial transactions with Morocco, including factoring. 
 Unbound for the other categories of lending, 
including consumer credit and mortgage credit, and 
retention bonds issued to foreign enterprises. 
(3) None, except as indicated in the horizontal section 
relating to financial services . 
(4) Unbound, except as indicated in the horizontal 
section. 
 (1) None 
(2) None 
(3) None (4) None 
  
(x) Trading for account for 
customers, whether on an 
exchange, in an over-
the-counter market or otherwise: 
     
 TN/S/O/MAR 
Page 20 Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons 
Sector or subsector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
(A) Money market 
instruments:  
- Certificates of deposit 
- Finance company bonds  
- Commercial paper 
  (CPC 81339*) 
 (1) Unbound 
(2) Unbound 
(3) Negotiable debt instruments (certificates of 
deposit, finance company bonds and 
commercial paper) may only be issued by legal 
persons constituted under Moroccan law. The sale and the negotiation of such instruments are 
restricted to the issuers and to credit 
institutions, the Caisse de Dépôt et de Gestion  
(Deposit and management fund) and stock 
exchange offices. Negotiable debt instruments 
may only be held by Bank Al Maghrib and other banks, authorized finance companies and 
the central depository.  
 
(4) Unbound, except as indicated in the horizontal 
section. 
 (1) None 
(2) None 
(3) None (4) None 
  
(E) Transferable securities: 
securities listed on the Moroccan stock exchange 
 (CPC 81321) 
 (1) Residents may acquire foreign securities subject to 
prior authorization in acco rdance with exchange 
regulations . Unbound 
(2) Unbound 
(3) None (4) Unbound, except as indicated in the horizontal 
section. 
 (1) None 
(2) None (3) None 
(4) None 
   
  TN/S/O/MAR
 Page 21Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons 
Sector or subsector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
(F) Other negotiable 
instruments and financial 
assets,  including bullion 
(gold)  (1) Unbound. Residents may acquire foreign securities 
subject to prior authoriz ation in accordance with 
exchange regulations.  Economic operators are 
also authorized to obtain cover on the 
international market against the risk of 
fluctuations in the prices of certain commodities. Such transfers may be conducted freely through 
the banking system.
 
(2) Unbound.  Residents may, however, acquire 
foreign securities subject to prior authorization 
in accordance with exchange regulations. 
Economic operators are also authorized to obtain cover on the international market against 
the risk of fluctuations in the prices of certain 
commodities. Such transfers may be conducted freely through the banking system.
 
(3) None (4) Unbound, except as indicated in the horizontal 
section 
 (1) None 
(2) None 
(3) None (4) None  
  
(xi) Participation in issues of all 
kinds of securities, including underwriting and 
placement as agent (whether 
publicly or privately) and provision of services related 
to such issues 
 (CPC 8119 
8132)  
 (1) Unbound 
(2) Unbound (3) None 
(4) Unbound, except as indicated in the horizontal 
section.
 (1) None (2) None (3) None 
(4) None
   
 TN/S/O/MAR 
Page 22 Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons 
Sector or subsector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
(xv) Provision and transfer of 
financial information, and 
financial data-processing and related software by 
providers of other financial 
services 
 (CPC 843
 8131)  
 (1) None 
(2) None 
(3) None (4) Unbound, except as indicated in the horizontal 
 section.
 (1) None (2) None 
(3) None (4) None  
9. TOURISM AND TRAVEL-
RELATED SERVICES 
 A. Hotel and restaurant services
 
 
(a) Lodging establishments 
 (CPC 641)    
- Hotels 
 (CPC 64110) 
- Motels 
 (CPC 64120) 
- Holiday centres and holiday 
 homes  (CPC 64192) 
- Boarding houses (pensions) 
 (CPC 64199)  (1) None 
(2) None 
(3) None 
(4) Unbound, except as indicated in the horizontal 
section (1) None 
(2) None 
(3) None 
(4) Unbound 
  
(b) Restaurants 
 (CPC 643)  (1) Unbound 
(2) None (3) None 
(4) Unbound, except as indicated in the horizontal 
section 
 (1) Unbound 
(2) None (3) None 
(4) Unbound 
   
  TN/S/O/MAR
 Page 23Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons 
Sector or subsector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
B. Travel agency and tour 
operator services  
 (CPC 7471) (1) Agencies established  outside Morocco must work 
through a Moroccan travel agency or a foreign 
agency established in Morocco   None 
(2) None 
(3) Subject to obtaining an operating licence 
(4) Unbound, except as indicated in the horizontal 
section 
 (1) None 
(2) None 
(3) None (4) Unbound  
C. Tourist guide services  
 (CPC 7472) 
 
 
  
 (1) Unbound 
(2) None 
(3) Moroccan nationality requi red, but groups may be 
accompanied by tour leaders 
(4) Unbound, except as indicated in the horizontal 
section 
 (1) Unbound 
(2) None 
(3) Unbound 
(4) Unbound  
D. Other tourism sector services  
 (CPC 641) 
 (1) Unbound 
(2) None 
(3) None 
(4) Unbound, except as indicated in the horizontal 
section 
 (1) Unbound 
(2) None 
(3) None 
(4) Unbound   
11. TRANSPORT SERVICES 
    
A.  International maritime 
transport services  (freight 
and passenger) excluding cabotage 
    
(a) Transport of passengers / 
accompanied vehicles 
 (CPC 7211) 
 (1) Reservation of 50 per cent of traffic for 
national shipping companies 
(2) None (3) None 
(4) Unbound, except as indicated in the horizontal 
section 
 (1) None 
(2) None 
(3) None  
(4) Unbound 
   
 TN/S/O/MAR 
Page 24 Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons 
Sector or subsector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
(b) Bulk freight maritime 
transport (dry and liquid) 
 (CPC 7212) 
 (1) None 
(2) None 
(3) None (4) Unbound, except as indicated in the horizontal 
section 
 (1) None 
(2) None 
(3) None (4) Unbound 
  
(c) Scheduled liner maritime 
transport 
 
 
 (1) Reservation of trade in accordance with the 
principle of sharing provided for by the Code of Conduct for Liner Conferences 
(2) None 
(3) None 
(4) Unbound, except as indicated in the horizontal 
section 
 (1) None 
(2) None (3) None 
(4) Unbound   
C. Air transport services  
  Maintenance and repair of 
airline aircraft 
  
  
(1) None 
(2) None (3) Unbound
  None  
(4) Unbound, except as indicated in the horizontal 
 section   
  
(1) None 
(2) None (3) Unbound
  None 
(4) Unbound 
  
 Maintenance and repair for 
aviation in general 
 
 
 (1) None 
(2) None (3) None 
(4) Unbound, except as indicated in the horizontal 
section 
 (1) None 
(2) None (3) None 
(4) Unbound  
 Selling and marketing, 
including market research, 
advertising and distribution (1) None 
(2) None 
(3) None 
(4) Unbound, except as indicated in the horizontal 
section 
 (1) None 
(2) None 
(3) None 
(4) Unbound   
  TN/S/O/MAR
 Page 25Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons 
Sector or subsector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
 Computer reservation system 
 (1) None 
(2) None 
(3) None (4) Unbound, except as indicated in the horizontal 
section 
 (1) None 
(2) None 
(3) None (4) Unbound  
F. Road transport services  
 (a) International road passenger 
transport 
 (CPC 7121 + 7122)b)  
  
(1) Unbound 
(2) None 
(3) Obligation to establish a company under 
Moroccan law 
(4) Unbound, except as indicated in the horizontal 
section 
  
  
(1) Unbound 
(2) None 
(3) None 
(4) Unbound   
(b)  Freight transport 
 (CPC 7123) (1) Unbound 
(2) None 
(3) Obligation to establish a company under 
Moroccan law 
(4) Unbound, except as indicated in the horizontal 
section 
 (1) Unbound 
(2) Unbound 
(3) None (4) Unbound  
(c) Other passenger transport 
(tourists) 
 (CPC 71219) (1) Unbound 
(2) None (3) Obligation to establish a company under 
Moroccan law 
(4) Unbound, except as indicated in the horizontal 
section 
 (1) Unbound 
(2) Unbound (3) None 
(4) Unbound   
 TN/S/O/MAR 
Page 26 Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons 
Sector or subsector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
(d) Rental services of 
commercial freight vehicles 
with operator 
 (CPC 71240**)  
 
 (1) Unbound 
(2) None 
(3) Obligation to establish a company under  Moroccan law 
(4) Unbound, except as indicated in the horizontal 
 section  (1) Unbound 
(2) Unbound 
(3) None (4) Unbound  
(e)  Freight transport agency 
services 
 (CPC 74800**)  (1) Unbound 
(2) None 
(3) Obligation to establish a company under 
 Moroccan law 
(4) Unbound, except as indicated in the horizontal 
 section 
 (1) Unbound 
(2) Unbound 
(3) None 
(4) Unbound   
 
 
  TN/S/O/MAR 
 Page 27 
 
 
 REFERENCE DOCUMENT FOR THE INITIAL OFFER ON TELECOMMUNICATIONS 
SERVICES 
 
 Scope
 
 
 The following are definitions and principl es on the regulatory framework for basic 
telecommunications services.  Definitions
 
 
 Users  mean service consumers and service suppliers. 
  Essential facilities
 mean facilities of a public telecommunications transport network or service 
that 
 
 (a) are exclusively or predominantly provided  by a single or limited number of suppliers;  
  and 
 (b) cannot feasibly be economically or technically substituted in order to provide a service. 
  A major supplier
 is a supplier which has the ability to materially affect the terms of 
participation (having regard to price and supply) in  the relevant market for basic telecommunications 
services as a result of:   (a) control over essential facilities;  or  
 (b) use of its position in the market. 
  1. Competitive safeguards
 
 1.1 Prevention of anti-competitive practices in telecommunications
 
 
 Appropriate measures shall be maintained for the purpose of preventing suppliers who, alone 
or together, are a major supplier from engaging  in or continuing anti-competitive practices. 
 1.2 Safeguards
 
 
 The anti-competitive practices referred to above shall include in particular:   (a) engaging in anti-competitive cross-subsidization;   (b) using information obtained from comp etitors with anti-competitive results;  and 
 
 (c) not making available to other services suppliers on a timely basis technical  information 
about essential facilities and commercially rele vant information which are necessary for 
them to provide services. 
 
 TN/S/O/MAR 
Page 28  
 
 2. Interconnection
 
 2.1 This section applies to linking with supplie rs providing public telecommunications transport 
networks or services in order to allow the users of  one supplier to communicate with users of another 
supplier and to access services provided by anot her supplier, where specific commitments are 
undertaken. 
 2.2 Interconnection to be ensured
 
  Within the limits of permitted market access,  interconnection with a major supplier will be 
ensured at any technically feasible point in th e network.  Such interconnection is provided: 
  (a) under non-discriminatory terms, conditio ns (including technical standards and 
specifications) and rates and of a quality no l ess favourable than that provided for its own 
like services or for like services of non-affiliate d service suppliers or for its subsidiaries 
or other affiliates; 
  (b) in a timely fashion, on terms, cond itions (including technical standards and 
specifications) and cost-oriented rates that ar e transparent, reasonable, having regard to 
economic feasibility, and sufficiently unbundled  so that the supplier need not pay for 
network components or facilities that it does not require for the service to be provided;  
and 
  (c) upon request, at points in addition to th e network termination points offered to the 
majority of users, subject to charges that reflect the cost of construction of necessary 
additional facilities. 
 
2.3 Public availability of the pro cedures for interconnection negotiations
 
  The procedures applicable for interconnecti on to a major supplier will be made publicly 
available.  
2.4 Transparency of interconnection arrangements
 
  It is ensured that a major supplier will make  publicly available either its interconnection 
agreements or a reference interconnection offer.  
2.5 Interconnection:  dispute settlement
 
  A service supplier requesting interconnection with  a major supplier will have recourse, either: 
  (a) at any time or  
 (b) after a reasonable period of time which has been made publicly known 
 to an independent domestic body, which may be a regulatory body as referred to in paragraph 5 
below, to resolve disputes regarding appropriate te rms, conditions and rates for interconnection within 
a reasonable period of time, to the extent th at these have not been established previously.  TN/S/O/MAR 
 Page 29 
 
 
  
3. Universal service  
  Any Member has the right to define the ki nd of universal service obligation it wishes to 
maintain.  Such obligations will not be regarded as anti-competitive per se , provided they are 
administered in a transparent, non-discriminator y and competitively neutral manner and are not more 
burdensome than necessary for the kind of universal service defined by the Member.  4. Public availability of licensing criteria
 
 
 Where a licence is required, the following will be made publicly available: 
  (a) all the licensing criteria and the period of time normally required to reach a decision 
concerning an application for a licence  and 
 
 (b) the terms and conditions of  individual licences. 
  The reasons for the denial of a licence will be  made known to the applicant upon request. 
 5. Independent regulators
 
 
 The regulatory body is separate from, and not accountable to, any supplier of basic 
telecommunications services.  The decisions of and the procedures used by regulators shall be impartial with respect to all market participants.  6. Allocation and use of scarce resources
 
 
 Any procedures for the allocation and use of s carce resources, including frequencies, numbers 
and rights of way, will be carried out in an obj ective, timely, transparent and non-discriminatory 
manner.  The current state of allocated frequency bands will be made publicly available, but detailed 
identification of frequencies allocated for specific government uses is not required. 
 
 
  
 TN/S/O/MAR 
Page 30 
 
MOROCCO - LIST OF ARTICLE II (MFN) EXEMPTIONS 
 
  
Sector or subsector Description of measure 
indicating its inconsistency 
with Article II Countries to which the 
measure applies Intended duration Conditions creating the need for the 
exemption  
International road 
transport Measures contained in existing 
and future bilateral or 
multilateral agreements on the international road transportation 
of passengers and goods All countries Indefinite International road transport is a 
recent activity in Morocco.  The 
signature of bilateral agreements is aimed at protecting national 
enterprises by guaranteeing them a 
market share on the one hand and, on 
the other, at promoting bilateral 
cooperation among professionals. 
 
  
__________