MOROCCO, February 22 - The promotion of economic and financial cooperation between Morocco and Israel was the focus of discussions, Monday in Rabat, between Minister of Economy and Finance, Nadia Fettah, and Minister of Economy and Industry of Israel, Orna Barbivay, who is on a three-day working visit to the Kingdom.

This meeting, which was attended by Minister Delegate in charge of the Budget, Fouzi Lekjaa, was an opportunity for Fettah to welcome the progress made in the establishment of instruments of economic cooperation between Morocco and Israel, in accordance with the Memorandum of Understanding signed between the two countries on 22 December 2020.

The Minister stressed, in this regard, the importance of the agreements being negotiated between the Moroccan and Israeli Ministries of Finance, particularly in the areas of investment promotion, taxation and customs cooperation. These agreements should contribute to the promotion of economic and financial cooperation between the two countries.

Fettah referred, moreover, to the significant potential for development of investment relations between Morocco and Israel. In this regard, she expressed her willingness to work, jointly with Barbivay, to promote business relations between economic operators of both countries and explore investment opportunities that Morocco offers, by its exceptional geographical position and the diversity of its growth.

For her part, Barbivay welcomed the constant evolution of bilateral relations between Morocco and Israel. Also, she reaffirmed the willingness of the Israeli government to build a foundation for strategic partnership with the Kingdom of Morocco to boost a constructive and sustainable economic relations between the two countries.

Morocco and Israel have concluded on December 22, 2020, a Memorandum of Understanding in the field of finance and investment which provides, among other things, for the opening of negotiations between the two parties to conclude an agreement on the promotion and protection of reciprocal investments, a convention on double taxation and an agreement on mutual administrative assistance in customs matters.

The meeting was also attended by senior officials from the Ministry of Economy and Finance of Morocco and the Ministry of Economy and Industry of Israel.

MAP 21 February 2022