Trade exchanges between Morocco and Israel exceed 117 million dollars in 2021

Commercial exchanges between Morocco and Israel have known a remarkable development since the normalization of relations and Morocco’s entry into the Abraham Agreements, as the figures indicate that the number of these transactions between the two countries amounted to 117.11 million dollars. in 2021.

And data from the Israel Export Institute, based on information from the Central Bureau of Statistics, indicated that Israel’s goods exports to Morocco increased, in 2021, by about 214 percent compared to 2020, or by about $12 million.

According to the same source, these goods include automobiles, aircraft, ships, transportation equipment, plastics, rubber and their derivatives, industrial chemicals, machinery, electrical equipment, and audio and video technologies.

In 2020, Israel imported $9.76 million worth of goods from the kingdom, including “processed vegetables” and processed fish; But also beer. In the same year, Israel exported $11.2 million worth of goods to Morocco, including aircraft, helicopters, space and other equipment.

In 2021, the value of imports of goods to Israel from Morocco amounted to $57 million, “a decrease of around 15 percent compared to 2020, when the value of imports from Morocco amounted to around $67 million” , according to Ohad Cohen, director of Israel. foreign trade.

Moroccan exports to Israel included car accessories, textiles, olives, canned fish, and other food products.

The countries in terms of import and export intend to transfer potentials of up to $250 million per year. According to the United Nations Trade Organization database, the value of Israeli exports to Morocco in 2021 amounted to $30.72 million.

Adiv Baruch, director of the Israel Export Institute, expressed his belief in the good understanding between the two countries, saying “economic and trade cooperation with Morocco will lead to important results for both parties.”

It is noteworthy that the Moroccan government sent, at the end of last July, to the House of Representatives a bill according to which the economic and commercial cooperation agreement with the government of the State of Israel, signed in Rabat last month February, be approved. This law is expected to be discussed during the next legislative year.

In accordance with the content of the agreement, Morocco and Israel will take all appropriate measures to develop economic and trade relations and all necessary steps to encourage and facilitate cooperation with the aim of increasing the volume of trade between them.

The agreement is based on the Joint Declaration on the Establishment of Full Diplomatic, Peaceful and Friendly Relations between the Kingdom of Morocco and the State of Israel, signed by Morocco, the United States of America and Israel in Rabat on December 22, 2020.