Mon. Jul 1st, 2024

Trade exchange between Morocco and Israel witnessed a noticeable increase, as the volume of trade between the two countries reached $8.5 million last May, an increase of 124% compared to the same period last year.

According to the Moroccan newspaper “Hespress”, the total cumulative value of intra-regional trade during the first five months of this year reached $53.2 million, achieving a growth of 64% compared to 2023.

A report issued by the Abraham Accords Institute indicated that there is an upward trend in trade between Israel and Morocco, the United Arab Emirates, Jordan, Egypt, and Qatar.

Data from the Foreign Trade Management Unit in the Israeli Ministry of Economy and Industry indicated that the volume of Israeli exports to Morocco increased by 128% last year, while Israeli exports to the aforementioned countries increased, as the value of exports to the UAE alone reached $650 million, an increase of 5.2%.

This growth in trade exchange came after the signing of the “Abraham Peace” Accords in December 2020, which aimed to strengthen relations between Israel and several Arab countries, including a series of cooperation agreements in the fields of trade and investment.

Economist Abderrahim Azraoui stated that the innovation and investment sector is considered a major focus of cooperation between Morocco and Israel.

He pointed out that the investment fund of the Mohammed VI Polytechnic University (UM6P Ventures) announced in February 2024 its intention to invest in Israeli companies specialized in biotechnology, agriculture, and alternative proteins.

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