Mrs. Nadia FETTAH, Minister of Economy and Finance, together with Mr. Fouzi LEKJAA, Minister Delegate in charge of the Budget, met Monday, February 21st 2022 with Mrs. Orna BARBIVAY, Minister of Economy and Industry of the State of Israel who is on a three-day working visit to the Kingdom.
During this event, the Minister welcomed the progress made in the implementation of economic cooperation instruments between Morocco and Israel, in accordance with the Memorandum of Understanding signed between the two countries on 22nd December 2020.
In this regard, Mrs. FETTAH stressed the importance of the agreements under negotiation 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 both countries.
Moreover, the Minister brought up the important potential of the development of investment relations between Morocco and Israel. In this regard, Mrs. FETTAH expressed her readiness to work, jointly with Mrs. Orna BARBIVAY, to promote business relations between the economic operators of both countries and to explore the investment opportunities of Morocco, due to its exceptional geographical position and the diversity of its sources of growth.
On the other hand, Mrs. BARBIVAY welcomed the constant evolution of bilateral relations between Morocco and Israel. In addition, she reaffirmed the willingness of the Israeli government to build a foundation of strategic partnership with the Kingdom of Morocco to boost a constructive and sustainable economic relation between both countries.
It is worth recalling that the Kingdom of Morocco and the State of Israel have concluded, December 22nd 2020, a Memorandum of Understanding in the field of finance and investment. The latter includes the opening of negotiations between both parties for the conclusion of an Agreement on reciprocal promotion and the protection of investments, a Convention on double taxation and an Agreement on mutual administrative assistance in customs matters.
Senior officials from the Ministry of Economy and Finance of the Kingdom of Morocco and the Ministry of Economy and Industry of Israel also attended this meeting.