Israel looks to increase trade with Morocco to $500 mln

In visit to Rabat, Economy Minister to seal investments in the aerospace, automobile, agri-food, textile and pharmaceutical industries as well as industrial research fields

Reuters|
Israel is targeting an annual trade volume of $500 million with Morocco, up from $131 million currently as the two countries look to broaden cooperation since they normalized relations in 2020, Israel's economy minister said on Monday.
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  • Orna Barbiva made the statement following talks in Rabat with Moroccan industry and trade minister Ryad Mezzour, with whom she signed a trade and investment cooperation deal.
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    דגל ישראל דגל מרוקו
    דגל ישראל דגל מרוקו
    The flags of Israel and Morocco
    (Photo: AFP)

    Under this deal, the two countries committed 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, Barbiva discussed with her Moroccan counterpart Nadia Fettah Alaoui future agreements on investment incentives, customs cooperation and double taxation, Morocco's economy and the 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.
    Barbiva's visit to Morocco comes three months after the two countries signed a defense pact.
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