Israel signs multi-million-dollar strategic accord with Morocco

The flags of Israel and Morocco. Source: Gabi Ashkenazi/Twitter.

“Beyond the important potential for additional trade, there are now infinite investment opportunities that Moroccan and Israeli private sectors can take advantage of,” says the president of the General Confederation of Moroccan Enterprises.

Jerusalem and Rabat have signed a strategic accord worth hundreds of millions of dollars, Israel Hayom has learned.

The heads of the Israel Manufacturers Association, the Israel Farmers Federation and the Israeli Federation of the Chambers of Commerce signed the unprecedented agreement with the General Confederation of Moroccan Enterprises, also known as CGEM, on March 27.

According to Zeev Lavie, director of international trade at the Federation of Chambers of Commerce, “The leading fields of trade will be food and agriculture, spare parts and vehicles, chemicals and mechanical equipment. On the other hand, Morocco looks forward to various technologies in the renewable energy fields, water treatments, agriculture and health.”

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At the signing ceremony, the president of CGEM said, “Beyond the important potential for additional trade, there are now infinite investment opportunities that Moroccan and Israeli private sector[s] can take advantage of locally, regionally and globally; in particular, as far as existing advantages in various sectors in our countries—like tourism, industry and innovation—are concerned.”

Israel Manufacturers Association President Ron Tomer said that he was “happy and thrilled to stand at the forefront of economy and trade through the renewal of Israel’s Morocco ties, following a lengthy, 15-year break. Many Israelis’ roots are in Morocco, where there has been a large, thriving Jewish community for years. It’s only natural that we are renewing and bolstering ties between the two states through a genuine, long-term partnership that will yield trade cooperation and assist in promoting imports and exports between Israel and Morocco.”

According to the Federation of Israeli Chambers of Commerce President Uriel Lynn, “Israel and Morocco have special and long-term ties. Morocco has always been a natural destination for bolstering Israel’s collaboration in all fields of life, and certainly in the economic field. The Israeli market can enjoy cooperation with Morocco, which is situated between the European continent and Africa, and can serve as a bridge for Israeli companies for activity in the northern Sahara and the African continent.”

This article first appeared in Israel Hayom.


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