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Rabat – Morocco’s General Confederation of Enterprises (CGEM) and the Israeli Employers and Business Organizations (IEBO) signed a trade partnership agreement on Monday.
The two organizations signed the partnership during a videoconference.
The agreement aims to open permanent dialogue between CGEM and IEBO, which will combine their “efforts to create strong synergies between the respective business communities in key sectors,” CGEM explained.
The partnership seeks to also establish an exchange of information and experience in areas of common interest such as import and export, research and development, innovation, and technology.
“We are confident that this agreement constitutes a new step towards a strong, lasting partnership and creator of synergies between Moroccan and Israeli companies,” CGEM President Chakib Alj said.
The head of CGEM emphasized that the re-establishment of relations between Morocco and Israel opens very promising economic prospects, including a significant potential in terms of trade, and investment opportunities among others.
The President of IEBO and Manufacturers Association of Israel (MAI) Ron Tomer also expressed satisfaction with the signing.
Tomer said he is very happy to participate in the renewal of economic and trade relations between Israel and Morocco.
“The roots of many Israelis lie in Morocco, where for many years a large Jewish community flourished,” he said.
The Federation o Israeli Chambers of Commerce (FICC), Uriel Lynn also participated in signing the agreement, emphasizing the strong relationship between Israel and Morocco.
“Morocco could be a bridge of connection with North Africa for Israeli companies,” he said.
The Israeli businessman cited Morocco’s leading sectors, including automotive, agriculture, and textiles.
He said that Israel could contribute to the development of Morocco in the fields of modern agriculture, technological equipment, irrigation, and water technologies, as well as solar energy.
President of the Morocco-Business Council Steve O’Hana commented on the signing of the agreement, expressing his pride in chairing the council.
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“I would endeavor to ensure that our trade is beneficial for our two countries for Morocco and for Israel,” he said.
The agreement is part of the country’s commitment to continue to strengthen cooperation in different fields.
Morocco and Israel re-established ties on December 10, 2020.
The two countries will soon launch direct flights, which will serve Israeli and Moroccan tourists.
Rabat and Tel Aviv also started an exchange of official visits following the re-establishing of ties.
Morocco is the fourth Arab country to announce the decision to establish ties with Israel, after UAE, Bahrain, and Sudan.
