Israel to open economic bureau in Morocco next year

Israeli Minister of Economy and Industry, Orna Barbivai said her country is preparing to open an economic bureau in Morocco in 2023.

Speaking at the Morocco-Israel Business Conference in Tel Aviv, Barbivai said the bureau aims to promote trade and investment between the two countries.

“The connection with Morocco seems the most natural thing in the world. There is a mutual will to promote efficient economic processes,” he said.

During the last visit by the then-Israeli foreign minister Yair Lapid, the two countries signed a bilateral agreement on trade, among other deals.

“Thanks to trade and investment agreements last year, exports and imports were exceptionally high, a fact that has a direct effect on the economic strength of the State of Israel .”

Israeli exports to Morocco have increased by more than 165% in 2021, compared to the same period last year, according to the Israel Central Bureau of Statistics.

This increase s comes as a result of the strengthening of diplomatic ties between the two countries since December 10, 2020, as part of a trilateral agreement involving the US.

Israel seeks to build a partnership with Morocco that would open the door for investments in Africa in the fields of energy, agriculture, and economy.

“ Morocco has a clear competitive advantage, which makes it an excellent place for Israeli companies to grow. We are committed to strengthening and improving our trade relations with Israel, and we intend to allow them convenient access to the private sector in Morocco,” Moroccan ambassador to Israel Abderrahim Beyyoudh said at the conference.

Although Morocco-Israel relations have been moving on the right footing since the sinning of Abraham accords, a recent scandal in the Israeli liaison office may stall relations.