Morocco and Israel inked an economic-trade cooperation agreement here on Monday, aiming at establishing industrial zones in Morocco, facilitating the exchange of expertise, and jointly hosting promotional events and business forums.
Morocco's Minister of Industry and Trade Ryad Mezzour signed the agreement with visiting Israeli Minister of Economy and Industry Orna Barbivai, who led a delegation on a four-day working visit to Morocco starting Sunday, Morocco's official MAP news agency reported.
Both officials agreed to hold the first meeting of a joint committee established by the Economic and Commercial Cooperation Agreement, as well as to host a business forum, according to the report.
Industry 4.0, food, automotive, aerospace, textiles, water technology, renewable energy, outsourcing services, medical devices, and pharmaceutical industry are among the sectors identified by both sides as having high investment potential, according to the report.
Mezzour said that after more than a year of the establishment of diplomatic relations, Morocco and Israel have laid the groundwork for an innovative multi-dimensional partnership.
Orna Barbivai said Israeli industrialists and businessmen are ready to work with their Moroccan counterparts to foster their economic and commercial partnership.
The two countries signed a historic agreement for the establishment of full diplomatic relations in December 2020.
Editor: Kelly
