In its most recent annual report, the Abraham Accords Peace Institute revealed that trade between Morocco and Israel reached $55.7 Million in 2022, constituting a 32% increase in trade from 2021.
The release included new information regarding the achievements and challenges of the accords as well as a thorough analysis of relations with Morocco.
“There have been notable positive diplomatic and security developments between Morocco and Israel in 2022, and there remains significant potential to accelerate and expand them,” begins the report, explaining that trade between Israel and Morocco has grown significantly in 2022, although the unrealized potential in multiple sectors such as energy, agriculture, and manufacturing remains great.
Although travel between Morocco and Israel has grown since the Abraham Accords were signed, there is still a lot of space for expansion given the close historical, cultural, and interpersonal ties between the two nations.
The report noted that Morocco’s ties to the Land of Israel go back millennia, in contrast to other nations with which Israel has normalized relations.
Due to this history of links, there will be various noteworthy cultural, youth, intellectual, and people-to-people activities and exchanges taking place in 2022 that will contribute significantly to the strengthening of ties between Israel and Morocco, explained the same source.
Numerous economic areas have seen the strengthening of relations, and there are a few other noteworthy accords that are worth mentioning. Israel Aerospace Industries and in February,
In exchange for $500 million in missile defense, Morocco consented an agreement to collaborate on civil aerospace projects, promote innovation, and advance aircraft maintenance and transformation was inked between Morocco and Israel in March.
The International University of Rabat and Israel Aerospace Industries (IAI) came to an agreement in November to exchange experiences and strengthen their partnership in scientific research and innovation.
“Morocco and Israel, two of the most prosperous and dynamic economies in their regions, today share a clear and strong strategic vision to increase the volume of trade and investment, to improve our mutual approach to the markets, and to lead towards shared social and economic growth,” said the report.
According to the report, 89% of the total Israeli visitors traveled to Morocco for leisure and personal reasons, while 11% went on business trips.
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