Israel to open economic mission in Morocco as trade grows
May 04, 2023
Israel plans to set up an economic mission in Morocco to further bolster trade between the two countries after the momentum created by the resumption of ties in 2020.
In 2022, trade between the two countries rose to 180 million, up 160% compared to 2020, with a potential to outperform that as Moroccan and Israel businesses foster ties.
The establishment of the economic mission was announced by Israeli economy minister Nir Barkat following talks during the agricultural fair in Mekness with Morocco’s industry minister Ryad Mezzour.
“Since the Abraham accords, the scale of economic activity between Israel and Morocco never stopped growing. Morocco is a strategic trade partner for Israel. We are aware of the interest of Israeli industries in Moroccan enterprises in fields such as health, water, agriculture, cyber, agrifood, transport and renewable energies,” he said in a statement.
Israel’s exports to Morocco in 2022 totaled 40 million dollars, made up mostly of chemical products (43%) followed by machines and transport equipment with 19% and 15% respectively.
Morocco exported 140 million dollars to Israel. Textile dominated sales with 59% followed by fresh produce and foodstuff at 36%.
Barkat also met with agriculture minister Mohammed Sadiki in Meknes which hosts Morocco’s largest agriculture fair bringing together key actors in the farming sector.