Israel’s exports to Morocco are estimated at $250 million annually, Israeli news outlet Israel Hayom reported. Data from a joint assessment between the Israeli Ministry of Regional Cooperation and the Israel Export Institute shows that trade between Israel and Morocco “does not exceed tens of million dollars per year.” Both Israel and Morocco are looking forward to boosting cooperation at different levels, particularly in trade. Quoted by Israel Hayoum, the Israel Export Institute is hopeful to see economic and commercial cooperation with Morocco achieve important results for both parties. Israeli Regional Cooperation Minister Issawi Freij echoed the same statement, emphasizing the importance of strengthening cooperation in the region as a “strategic goal.” The report also highlighted the increasing number of tourists visiting Morocco from Israel, saying that Israeli tourist arrivals in Morocco range between 30,000 and 45,000 per year. Morocco re-established relations with Israel in December 2020 as part of the US-brokered peace plan known as the Abraham Accords.
Under the accord, both countries along with the US announced a tripartite declaration, vowing to cooperate to strengthen ties in all fields, including security, trade, tourism, and political dialogue. Data from the Abraham Accord Peace Institute from earlier this year showed that trade between Morocco and Israel increased by 1% co in the first half of 2022 compared to the same period last year. Trade between the two countries reached $63.9 million in the first half of 2022. In February, Israeli Minister of Economy Orna Barbivai said that her country seeks to increase the volume of bilateral trade with Morocco to reach $500 million or more, stressing that the two countries have many opportunities to reach this level “quickly.”