Israel Looks to Increase Trade with Morocco to $500 Million
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, February 21.
Orna Barbivai 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.
Under this deal, the two countries commit to facilitating trade and investments in the aerospace, automobile, agri-food, textile, and pharmaceutical industries in particular, Mezzour said.
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 defense pact. (JPost / VFI News)
Therefore encourage one another and build one another up, just as you are doing. - 1 Thessalonians 5:11