The export potential from Israel to Morocco could reach $250 million annually, a report by the Regional Cooperation Ministry and the Israel Export Institute has found.
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The 70-page review, released on Monday, said that the resumption of diplomatic ties between Jerusalem and Rabat provides a host of opportunities for the business sector, as well as for projects on a national level and for cultural exchange.
Due to the lack of diplomatic infrastructure, trade between Israel and Morocco currently amounts to merely a few tens of millions of dollars a year.
The number of Israeli tourists who visit Morocco every year is between 30,000 and 45,000.
According to the review, Israeli exports to Morocco should focus mainly on agriculture, water treatment technology, digitization and smart industries, cyber, security, digital healthcare systems, and smart urban sphere systems.
The fact the Israel and Morocco have been able to maintain cultural ties despite decades of diplomatic stagnation now allows for a rare combination of economic and business interests to flourish, the report noted.
Another advantage that such trade option offer lies with the fact that Morocco entered into a free trade agreement with Africa in early 2021, meaning it could also serve as a gateway to increasing trade with African countries in general.
Israel Export Institute Chairman Adiv Baruch expressed confidence that "business-economic cooperation with Morocco will lead to significant results for both sides."
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