Israel and Morocco sign economic cooperation and trade agreement

Israeli and Moroccan ministers sign a new economic and trade agreement at a meeting in Morocco.

Economy Minister Orna Barbivai and Moroccan Industry and Trade Minister Ryad Mezzour ink the deal to develop bilateral economic and trade relations, increase cooperation, hold joint conferences, put in place some customs exemptions and establish a joint committee to implement the measures.

Barbivai says she instructed her ministry to work toward increasing bilateral trade from $131 million to $500 million in the next five years.

Barbivai says, “The economic cooperation agreement is designed to bring about economic growth and prosperity for Israel and Morocco. By working together we will realize the latent economic potential in bilateral relations, increase the scope of trade and strengthen technological cooperation alongside rapprochement between the peoples.”

Mezzour says, “After resuming diplomatic relations one year ago, today Morocco and Israel have laid the foundation for an innovative and multi-faceted partnership. Today marks a new stage in which we will embark together on a partnership that is intensive, productive and beneficial for both sides.”

Defense Minister Benny Gantz made an unprecedented visit to Morocco in November, signing a security pact that angered Morocco’s neighbor and rival Algeria, and the Palestinians.

Israel and Morocco had initially established relations in the 1990s, but Rabat broke them off at the start of the second Palestinian intifada (uprising) in 2000.
Cooperation has expanded swiftly since ties were re-established as part of the US-brokered Abraham Accords in late 2020.