Israel-Morocco Trade Agreements Could Boost Annual Commerce by $500 Million

During the visit of the American-Israeli delegation to Rabat on December 23, financial cooperation agreements had been signed between the Israeli Finance Minister, Israel Katz and his Moroccan counterpart Mohamed Benchaâboun.

The two countries have agreed on several areas of economic cooperation, including a bilateral effort to lower investment barriers, increase cooperation and exchange information in the areas of financial regulation, anti-money laundering and counter-terrorism financing, as well as the promotion of several international conventions for the benefit of private sector activities, reports Israel Hayom.

Morocco and Israel also intend to set up a joint economic team. Similarly, the two countries want to formalize protocols between their respective ministries and financial regulators.

"For years, we have had links with Morocco. With these new cooperation agreements, these links will continue to strengthen. This is an important step towards transforming Israel from an insular economy into a leading regional economic center, with economic and commercial links throughout the Middle East," welcomed Mr. Katz.