Israel, Morocco sign economic trade cooperation agreement after peace deal
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Xinhua | 25 January 2021
Israel, Morocco sign economic trade cooperation agreement after peace deal
JERUSALEM, Jan. 24 (Xinhua) — Israel and Morocco have reached an economic-trade cooperation agreement, the Israeli Ministry of Economy and Industry said on Sunday.
This follows the normalization agreement signed between the two countries on Dec. 22, 2020, and talks conducted by the Israeli Economy Minister Amir Peretz and Moroccan Minister of Industry, Trade, Investment and Digital Economy Moulay Hafid Elalamy.
The agreement, which is expected to be signed in two weeks, establishes a framework for cooperation in the fields of economics, trade and innovation, with both sides aiming to increase bilateral trade and remove trade barriers.
The agreement includes cooperation in the areas of standardization, regulation, R&D, innovation, agro-technology and more.
The agreement also includes mutual participation in exhibitions and economic conferences in the two countries, businessperson visits and study tours.
It also provides for a tax exemption on mutual importation of goods used for display or samples for non-commercial uses.
In addition to the agreement, the sides will discuss the establishment of a joint innovation fund and forming an R&D agreement.
