Trade between Morocco and Israel amounted to $3.1 million in the month of May, estimated at a 94 percent increase in the value of bilateral exchanges recorded in May of last year, according to the Abraham Accords Peace Institute.
Recent data provided by the research institute showed that trade with Abraham accords partners jumped in May, and expected June to reflect a similar trend.
“Trade ties broke even last month’s records, and June saw many exciting developments in the innovation, diplomatic and academic spheres,” Asher Fredman, Director for Israel at the Abraham Accords Peace Institute, said in a Twitter post.
In February, Morocco and Israel signed an economic cooperation agreement that seeks to raise trade exchange between the two countries to about $500 million annually.
Trade between Israel and the United Arab Emirates reached $201.4 million in May 2022, a 130 percent increase compared to last year. Trade with Jordan increased by 54 percent from the previous year to $55 million, and trade with Egypt increased by 41 percent to $23.6 million. Israel’s trade with Bahrain increased from zero to $1.2 million in just one year.
To boost exchanges, Israeli nationals will no longer need to schedule appointments for interviews at the Moroccan liaison office in Israel as of July 10th thanks to an announcement from Morocco that they will be eligible for e-visas.
Three military observers from Israel participated in “African Lion 2022” in Morocco this week, according to a statement from the Israeli Defense Ministry earlier on Saturday. This was the first time Israeli troops had visited the country.
A joint agreement to normalize relations between Israel, Bahrain, and the United Arab Emirates (UAE) was signed in August 2020. Sudan and Morocco have later been added in the US-mediated deals.
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