Morocco and Israel have signed an agreement on economic and trade cooperation aiming at building industrial zones in Morocco, promoting the sharing of expertise, and conducting promotional events and business forums jointly.
Morocco’s Minister of Industry and Trade, Ryad Mezzour, signed the agreement on Monday with Orna Barbivai, the Israeli Minister of Economy and Industry, who led a group on a four-day working visit to Morocco that began on Sunday.
According to the report, both officials agreed to hold the first meeting of a joint committee created by the Economic and Commercial Cooperation Agreement, as well as host a business conference
Both parties highlighted Industry 4.0, food, automotive, aerospace, textiles, water technology, renewable energy, outsourced services, medical devices, and the pharmaceutical industry as areas with significant investment potential.
The Minister said that Morocco and Israel have created the framework for an innovative multi-dimensional partnership, after more than a year of diplomatic relations.
According to Orna Barbivai, Israeli entrepreneurs and businesses are willing to collaborate with Moroccan counterparts to strengthen their economic and commercial ties.
In December 2020, the two countries reached a historic deal to establish full diplomatic ties.
