This meeting is part of the implementation of the Joint Declaration signed on December 22, 2020 in Rabat, in which both countries have expressed their willingness to promote a dynamic and innovative bilateral economic cooperation in the areas of trade, finance and investment, as well as innovation and technology.
"This is a seminal meeting that has given us the opportunity to identify areas and avenues of collaboration and bilateral industrial and commercial partnership. After more than a year of resumption of diplomatic relations, Morocco and Israel have laid the groundwork for an innovative multidimensional partnership. Today is a new step that we begin on the path of our partnership that we want intense, fruitful and mutually beneficial, "said Mezzour.
On this occasion, Mezzour and Barbivai signed an economic cooperation agreement aimed, among other things, at creating Qualified Industrial Zones in Morocco, which will make it possible to concretize the tripartite Morocco-Israel-United States cooperation in the field of trade and investment and to facilitate the direct access of goods produced in these Zones to the American market.
This agreement also provides for participation in trade fairs and economic conventions to be held in both countries, the exchange of expertise and the organization of promotional events and business visits. It is also meant to establish bilateral cooperation on issues of standardization and regulation, between private sector entities of both countries (employers' organizations, Chambers of Commerce ...) and in the areas of research and development (R&D), innovation and small and medium enterprises.
During this meeting, Barbivai said that cooperation between the two countries is "very natural", given the history, human relations and culture that bind them, noting that this agreement will outline the program of involvement that will be implemented.
Under this agreement, she added, professional teams from both sides will be put in contact to identify avenues of collaboration to advance the joint work between the two countries.
Barbivai also stressed the need to increase the level of economic and trade between Morocco and Israel, currently amounting to 130 million dollars per year, to 500 million dollars per year, or more. In this regard, she highlighted the willingness of Israeli industrialists and businessmen to work with their Moroccan colleagues to move forward in this partnership.
This meeting was also an opportunity for both parties to identify sectors with high investment potential, in line with those selected by the respective business communities, namely Industry 4.0, agribusiness, automotive, aerospace, textiles, water technologies, renewable energy, outsourcing services, medical devices and pharmaceutical industry.
To put in place the mechanisms for the development of this bilateral partnership to meet the needs and expectations of both countries, it was agreed, at the end of this meeting, to hold the 1st session of the Joint Committee provided for by the Agreement on Economic and Commercial Cooperation and to organize a Forum of businessmen of both countries.