Morocco and Israel aim to quadruple their trade exchanges to bring them to more than 500 million dollars per year, the Israeli Minister of Economy indicated on Monday (February 21st) during a visit to the kingdom intended to strengthen bilateral economic cooperation.
“The level of economic and commercial exchanges between the two countries, which today amounts to 130 million dollars per year, is not enough, we must very quickly reach 500 million dollars per year, and even go beyond “Israeli Minister Orna Barbivai told the press following the signing of an economic and trade cooperation agreement with Moroccan Minister of Industry and Trade Ryad Mezzour.
“Strong investment potential”
The agreement provides in particular for discussions for the creation of industrial zones in Morocco, cooperation between the private sector of the two countries and the exchange of expertise in the field of innovation, for his part detailed Mr. Mezzour. He also shared the sectors to “strong investment potential” including the digital sector, agri-food, automotive, aeronautics, renewable energies and the pharmaceutical industry.
The four-day visit of Mme Barbivai, who arrived in Rabat on Sunday, marks a new stage in an all-out rapprochement between Morocco and Israel, begun since the resumption of bilateral diplomatic relations in December 2020 under the sponsorship of Washington.
It follows the very first visit at the end of November 2021 by Israeli Defense Minister Benny Gantz, which resulted in an important security and military cooperation agreement, against a backdrop of high tensions with neighboring Algeria.
In the morning, Mr.me Barbivai and his Moroccan counterpart Nadia Fettah reviewed agreements ” under negotiation “ on taxation and customs cooperation, said a press release from the Moroccan Ministry of Economy.
The minister will go on Tuesday and Wednesday to Casablanca and Marrakech, respectively the economic and tourist capitals of the kingdom, to visit Israeli textile and agricultural companies established in Morocco.
To not miss any African news, subscribe to the “Monde Afrique” newsletter from this link. Every Saturday at 6 am, find a week of news and debates covered by the editorial staff of “Monde Afrique”.