Morocco and Israel Explore Free Trade Agreement Amid Growing Economic Ties

A delegation of representatives of the main Israeli economic organizations stayed in Morocco on March 29 and 30. During this working visit, they exchanged notably with the General Confederation of Moroccan Enterprises (CGEM). "The dialogue with the CGEM was triggered several months ago, we have already virtually initialed a cooperation agreement since Morocco joined the Abraham Accords, which we re-signed once we met on the ground, two weeks ago, during the first visit of Moroccan businessmen to Israel. This return visit is aimed at continuing to explore the possibilities of cooperation, to identify in a more meticulous way the sectors that can be conducive to cooperation between the two countries," says Dan Catarivas, DG of the Manufacturers Association of Israel in an interview with Le360.

The two parties talked about a Win-Win cooperation issue. They are betting on the renewable energy, automotive, agriculture, water or advanced technology sectors to develop their economic partnership. "The forms of cooperation between Moroccan and Israeli companies differ, it can be direct investment, trade through the sale and purchase of products and raw materials or joint work within the framework of partnerships for the development of new products and services," explains the official.

In the eyes of the Israeli employers, Morocco is a new land, because there are many opportunities that Israeli businessmen did not know and on which they could now capitalize. "We are studying the different advantages that the establishment of Israeli companies in Morocco can offer. What is certain is that the country has a highly qualified workforce, proven know-how and a very interesting market as well. We were impressed by the level of development of the Moroccan economy and its growth potential," adds Dan Catarivas. According to him, the other major advantage is the geographical position offered by the kingdom to open up to new markets. "Israel can use Morocco as a hub to develop activities in Africa, this is one of the main topics that have been addressed in the various meetings with economic players from the two countries," he says.

Recalling that contracts have been signed in the field of renewable energy and investment between the two countries, the official expresses the wish of the Israeli employers, that of the signing of a free trade agreement between Morocco and Israel. "What we would like today to accelerate this economic and commercial dynamic is to make an effort at the level of government policies in order to reach a free trade agreement between Morocco and Israel. At the end of our meetings with the CGEM members, we agreed that it is important to encourage our two governments on both sides to start negotiating this agreement which should further facilitate contacts, exchanges, investment and trade between the two countries," concludes Dan Catarivas.