Signed: Agreement for cooperation in economics and trade between Israel and Morocco

The Minister of Economy and Industry has signed an agreement for cooperation in economics and trade between Israel and Morocco. Orna Barbibai, during her visit to Morocco, signed the agreement with the Moroccan Minister of Industry and Trade, Riyad Mazwar.
Development of economic and trade relations between the parties - The agreement stipulates that the parties will take all necessary steps to encourage cooperation in order to increase the volume of trade. In addition, the Parties will cooperate to remove any barrier to normal economic relations, including discriminatory laws, regulations or procedures. The Parties will also act in accordance with existing obligations and rights under the World Trade Organization (WTO) Agreement and other international agreements to which both parties are parties, with an emphasis on aspects relating to non-discrimination.
Cooperation - In order to develop trade between the parties, it was agreed that the countries would facilitate each other's participation in the exhibitions and economic conferences held. In addition, the countries will cooperate in the field of professional and technological knowledge sharing (exchange of expertise), and will organize study tours, seminars, trade shows and visits by businessmen and trade delegations. States will also cooperate on issues of standardization and regulation, and will encourage mutual cooperation between bodies from the private sector, such as cooperation between manufacturers' associations, chambers of commerce and business associations. States will also encourage cooperation between entities involved in small and medium-sized businesses and other industries.
Customs exemption on products imported temporarily - for the purpose of a show of a public nature (an art exhibition for example) or an example of a commodity used for display in an exhibition or event of a commercial nature.
The agreement stipulates that the parties will establish a joint committee of the Ministry of Industry and Trade of Morocco and the Ministry of Economy and Industry of Israel that will examine the implementation of the agreement, examine ways and means to expand and diversify mutual trade relations, consider and submit proposals. Identify issues that are affecting commercial collaboration and recommend solutions that may help expand access to each of their markets.
Minister of Economy and Industry, Orna Barbibai: "The Economic Cooperation Agreement is intended to bring about economic growth and prosperity for Israel and Morocco. The professionals in my office are working to ensure that bilateral trade between the economies grows from $ 131 million to $ 500 million over the next five years. "
Moroccan Minister of Industry and Trade Riyad Mazwar: "This was a groundbreaking meeting that created the opportunity for us to identify regions and channels for bilateral industrial and commercial cooperation and partnership. Together, we will embark on an intense, fruitful and beneficial partnership for both parties. "