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Rabat – The Moroccan Society for Tourism Engineers (SMIT), a state institution dedicated to developing Morocco’s tourism sector, will organize a webinar for Moroccan and Israeli investors on March 22, 2022.
Organized in partnership with Morocco’s and Israel Tourism Ministries, the high-profile webinar aims to showcase to investors the vast and lucrative opportunities within the tourism and hospitality sectors.
Investment funds, hotel owners from both countries, as well as tourism experts, will attend the event to discuss the current state and future of tourism in Morocco.
Since re-establishing diplomatic ties in December 2020, Morocco and Israel have both expressed genuine interest in further bolstering bilateral cooperation in several fields.
Trade between the two countries increased two folds in the span of one year to reach $130 in 2021.
While visiting Morocco last month, Israeli Economy Minister Orna Barbivai said Israel aims to increase current trade volume to $500 million.
Earlier this month, Morocco launched the first direct flight between Tel Aviv and Casablanca.
A Moroccan delegation of businessmen inaugurated the flight with a visit to Israel, and economic operators from both countries met to discuss possible venues to develop bilateral economic ties.
Over the past year, several Israeli businesses have flocked to the North African country as part of the visible drive to concretize the terms of agreements the Israeli and Moroccan governments signed when re-establishing diplomatic ties.
In late 2021, Israeli energy conglomerate Ratio Petroleum entered into an exploration agreement with the Moroccan National Office of Mines and Hydrocarbons (ONHYM).
In February this year, another Israeli oil firm, Delek Drilling, said it was in talks with Moroccan authorities to land an offshore oil and gas exploration permit.
Morocco is home to North Africa’s largest Jewish community, and in recent years the country has done much to restore and preserve its Jewish heritage, including funding excavation expeditions, restoration work, and academic projects tackling Morocco’s Jewish heritage.
Read Also: Trade Between Morocco, Israel Spiked After Re-Establishment of Ties
