Morocco And Israel have signed an Agreement to boost trade and investment cooperation between the countries, even as Countries Seek To Quadruple Trade Exchange.
On Monday, Moroccan Ryad Mezzour signed a deal with Israeli Orna Barbivai.
Ryad Mezzour said that the two countries demonstrate their desire to promote a dynamic and innovative bilateral economic cooperation in the fields of trade, finance and investment as well as innovation and technology.”
The current level of commercial exchange between the North African Kingdom and Israel amounts at 13 million dollars. The two nations are seeking to quadruple this annual trade.
The agreements will deepen the partnership between the countries’ private sectors and allow for the exchange of expertise in the field of innovation. Moroccan minister also pointed to sectors with “strong investment potential”, including agribusiness, automotives or renewable energy.
On the other hand, Barbivai said the agreement signed was only the beginning, stating that Israel recognizes Morocco’s strategic geopolitical ability with Africa and Europe, adding that cooperation in this matter will open more markets to industry, export and import in any aspect.
Her stay in Morocco marks Israel’s third official visit to the country since the nations re-established diplomatic ties in late December 2020. Since then, trade between Israel and North African and Middle Eastern countries has increased.
More agreements over taxation and customs cooperation are still “under negotiation” between Morocco and Israel.
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