Israel-Morocco Chamber of Commerce Gains Momentum with Business Leaders’ Support

This chamber, which will be a reality in the very near future, is an independent, non-profit, apolitical organization dedicated to promoting bilateral trade, investment, and commercial relations between Israel and Morocco, reports Israel Valley. The potential areas of bilateral economic cooperation between the two countries are: agriculture, aeronautics, space, life sciences, tourism, and the electronics industry.

Morocco is one of the most attractive countries for investment. Electronics is one of the areas where the kingdom excels thanks to its geographical proximity to the European continent, in addition to its significant infrastructure. Morocco’s GDP has recorded an average annual growth rate of 4% over the past decade and reached $122 billion in 2019.

Many multinational companies operating in the Maghreb and West Africa have their headquarters in Casablanca. Israelis can also settle in this port city, which accounts for 48% of investments and 60% of the kingdom’s GDP.

The third largest producer and the world’s leading exporter of phosphates, Morocco is also an agricultural power (citrus fruits, tomatoes, olive oil). The kingdom is also developing the automotive and aeronautical sectors. Israeli industrialists are particularly interested in the Casablanca Technopark. All these assets can make the country a more important partner for the Hebrew state.