MOROCCO: Trade and Investment Cooperation Deal with Israel Signed
03 March 2022
Morocco and Israel signed a trade and investment cooperation agreement on 21 February 2022. The agreement covers the creation of a bilateral economic and trade relations framework; economic cooperation initiatives between; and temporary import customs exemptions. The deal particularly targets trade and investments in high-potential sectors, such as automotive, agribusiness, Industry 4.0, aerospace, renewable energies, textiles, services outsourcing, water technologies, the pharmaceutical industry, and medical devices.
The agreement provides for establishing qualified industrial zones in Morocco that will build on the tripartite trade and investment agreement between Morocco, Israel and the United States by facilitating direct access for products manufactured in these zones to the US market. Morocco and Israel will also conduct trade fairs and economic conventions in each other’s countries to promote expertise exchange and develop cooperation between each other’s private sectors in research and development.
- Middle East