Israeli trade with Abraham Accords nations increased sharply in 2022
July 03, 2023
Morocco-Israel trade in first five months of 2023 more than double what it was in January-May 2022
Israel’s trade with Abraham Accords states increased sharply since last year, the Abraham Accords Peace Institute found.
Trade between Israel and Morocco in January-May of 2023 increased by over 110% compared to the first five months of 2022.Israel-United Arab Emirates trade grew by nearly 42% in the first five months of 2023 compared to the same period last year, and trade between Israel and Bahrain grew about 24%.
Ties between Abraham Accords nations continue to grow
The Abraham Accords Peace Institute based its findings on data from the Israeli Central Bureau of Statistics.Israel fully normalized relations with the UAE and Bahrain in September 2020, in what was called the Abraham Accords. Morocco, which previously had low-level diplomatic ties with Israel that it cut off in 2000, soon followed, and the countries exchanged liaison offices that they have said will be upgraded to embassies.
Despite growing trade between Israel and Abraham Accords partners, AAPI deputy director for Israel David Aaronson wrote that “the trade numbers... are far below what they could or should be.”
“The opportunities for Abraham Accords trade have not reached their full potential. In fact, they have only scratched the surface,” he argued.
According to Aaronson, “one of the highest potential areas where commerce can be increased is through the expansion of an overland trade route linking Israel’s ports to those of the Gulf. This route could be particularly valuable for heavy or bulky cargo such as vehicles, which are generally not sent by air, or for perishable goods such as produce and pharmaceuticals, which cannot be sent via the lengthy sea route.”Aaronson also suggested in an article AAPI plans to publish today that European countries ship products to the Gulf via Israeli ports, using such an overland route.Improvements to Israel’s overland border crossings and infrastructure would be needed to put such a plan into place, and doing so would require cooperation with the other Arab states with which Israel has peace – Jordan and Egypt.“By working together,
Accords member nations can expand free trade, advance the overland route, and develop regional connectivity. Once implemented, Israel and its Abraham Accords partners will be able to bring prosperity to their peoples in ways that were previously unimaginable,” Aaronson argued.