Israel is targeting annual trade volume of $500 million with Morocco, up from $131 million currently
Morocco, Israel sign trade cooperation deal to facilitate investment
The deal commits Morocco and Israel to facilitating trade and investments in the aerospace, automobile, agri-food, textile and pharmaceutical industries in particular.
Monday 21/02/2022
Israel is targeting annual trade volume of $500 million with Morocco, up from $131 million currently
RABAT - Morocco and Israel signed on Monday a trade and economic cooperation agreement to facilitate investments, as the two countries look to broaden cooperation since they normalised ties in 2020.
The deal was signed in Rabat by Israeli Economy Minister Orna Barbivai and Morocco's Trade Minister Ryad Mezzour.
Israel is targeting annual trade volume of $500 million with Morocco, up from $131 million currently as the two countries look to broaden cooperation since they normalised relations in 2020, Barbivai said on Monday.
Under the signed deal, the two countries commit to facilitating trade and investments in the aerospace, automobile, agri-food, textile and pharmaceutical industries in particular, Mezzour told reporters.
The agreement was part of the implementation of a deal to resume ties brokered by the Trump administration in 2020.
Earlier in the day, Barbivai discussed with her Moroccan counterpart Nadia Fettah Alaoui future agreements on investment incentives, customs cooperation and double taxation, Morocco's economy and finance ministry said in a statement.
Morocco is also looking forward to cooperating with Israel in fields relating to industrial research and development and the setting up of industrial zones, Mezzour said.
Barbivai's visit to Morocco comes three months after the two countries signed a defence pact.