Commercial exchanges between Morocco and Israel have known a remarkable development since the normalization of relations and Morocco’s entry into the Abraham Accords.
Current figures indicate that the number of these transactions between the two countries amounted to $117.11 million in 2021.
According to data from the Israeli Export Institute, based on information from the Central Bureau of Statistics, the exports of goods from Israel to Morocco increased in 2021, by about 214% compared to 2020, equating to an approximate $12 million.
According to the same source, these goods include cars, aircraft, ships, transport equipment, plastics, rubber and its derivatives, industrial chemicals, machinery, electrical equipment, and audio and video technologies.
In 2020, Israel imported $9.76 million worth of goods from the kingdom, including processed vegetables, processed fish, and beer.
In the same year, Israel exported to Morocco $11.2 million worth of products, including planes, helicopters, and other equipment.
In 2021, the value of goods imports to Israel from Morocco amounted to $57 million, “a decrease of about 15% compared to 2020, when the value of imports from Morocco amounted to about $67 million,” according to Ohad Cohen, director of Israeli foreign trade.
Moroccan exports to Israel included car accessories, textile products, olives, canned fish, and other foodstuffs.
According to the United Nations Trade Organization database, the value of Israeli exports to Morocco in 2021 amounted to $30.72 million.
Adiv Baruch, head of the Israeli Export Institute, expressed his conviction of the good understanding between the two countries, saying that “economic and commercial cooperation with Morocco will lead to important results for both parties.”
The Moroccan government referred to the House of Representatives a draft law at the end of last July, according to which the agreement on economic and commercial cooperation with the government of the State of Israel, signed in Rabat last February, will be approved.
It is expected that this law will be discussed during the next legislative year.
According to the contents of the agreement, Morocco and Israel will take all appropriate measures to develop economic and trade relations and all necessary steps to encourage and facilitate cooperation with the aim of increasing the volume of trade between them.
The agreement is based on the Joint Declaration on the Establishment of Full Diplomatic, Peaceful, and Friendly Relations between the Kingdom of Morocco and the State of Israel, signed by Morocco, the United States of America, and Israel in Rabat on December 22, 2020.
add your comment
Terms of publication : Not to offend the writer, people, sacred things, or attack religions or the divine self, and refrain from racist incitement and insults.