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Morocco and Israel seek to “establish a model for social development based on the principles of equality, equity, and solidarity,” in accordance with the instructions of King Mohammed VI, the ministry said in a statement.
Under the agreement, the two countries also pledged to implement bilateral cooperation between the private sectors in Morocco and Israel, as well as promote investment and innovation in many areas, such as the health sector.
The IMS group is set to invest an estimated budget of MAD 5 billion ($497 million) for the design, construction, and equipment of some Moroccan hospitals.
The investment program also includes the construction of five hospitals with a capacity of 1,000 beds in the southern region of Dakhla-Oued Eddahab and in the regions of Fez-Meknes, Draa-Tafilalet, and Marrakech-Safi.
Israel repeatedly expressed its desire to establish a network allowing Moroccan workers in the construction and nursing sectors to move to Israel for job opportunities.
On the Moroccan side, the leading pharmaceutical company, Copper Pharma, has said that it is open to partnerships with more Israeli companies in the pharmaceutical sector.
Morocco-Israel cooperation in the healthcare industry serves as an example of the mutual desire to deepen the ties between the two countries.
In February, the two countries signed a trade and investment cooperation agreement aimed at, among other things, the creation of “qualified industrial zones” in Morocco.
After Morocco and Israel restored diplomatic ties in 2020 through the US-brokered Abraham Accord, companies on both sides expressed interest in establishing partnership deals between the two countries.
With its trade volume breaking records every year, Israel aims to increase bilateral trade with Morocco to $500 million or more, up from the current $130 million.
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