Trade between Morocco and Israel has expanded remarkably, defying regional tensions and boycotts seen in other Arab countries, including those that normalized relations with Israel through the Abraham Accords. Last May, these exchanges reached a record value of $8.5 million, registering a spectacular increase of 124% compared to the previous year. Over the first five months of the year, total bilateral trade reached $53.2 million, marking growth of 64% compared to 2023. According to the recent report from the Abraham Accords Institute, trade between Morocco and Israel has significantly increased, contrasting with the fluctuations observed in trade with other partners in the region, such as the United Arab Emirates, Jordan, Egypt, and Qatar. Israeli exports to Morocco increased by 128% last year, while Tel Aviv also saw notable gains, including an increase in exports to the UAE of 5.2%, reaching a value of $650 million. Trade between Morocco and Israel has suffered fluctuations due to regional events, notably at the start of Operation “Toufan Al-Aqsa” in October last year, resulting in a 61% drop compared to the previous year. Despite this, a significant recovery was observed with $94 million in trade recorded two months before the end of the year, representing an increase of 112% compared to the same period in 2022. Moreover, the outlook for the growth of bilateral trade at the start of the year was divergent. Since the signing of the Abraham Accords in December 2020, economic cooperation sectors have seen notable development, supported by a series of agreements aimed at strengthening trade ties and investments. Mutual visits of Israeli and Moroccan companies were organized to explore investment opportunities, accompanied by trade missions and official visits aimed at intensifying economic cooperation. Abderrahim Azraoui, economic expert specializing in international trade, stressed that innovation and investment constitute major axes of cooperation between Morocco and Israel. In a statement to Hespress, the expert noted that since February 2024, UM6P Ventures, the investment fund of Mohammed VI Polytechnic University, intended to invest in Israeli companies specializing in biological, agricultural and alternative protein technology. The expert also highlighted the agreement between Israel Aerospace Industries (IAI) and the International University of Rabat to establish a center of excellence in aviation and artificial intelligence, highlighting the growing importance of technology and security in bilateral relations. The upcoming opening of a trade office and the appointment of an Israeli economic attaché will reflect the two countries’ commitment to strengthening trade and investment. Progress towards a free trade agreement and the establishment of other key economic initiatives will play a crucial role in deepening economic relations between Rabat and Tel Aviv, also highlighting the strategic importance of daily direct flights in improving air connectivity and economic relations.
