Morocco-Israel: Highlights of the 1st Economic Forum between the two employers
The kick-off of the first economic forum between Morocco and Israel, on Tuesday, March 15 in Tel Aviv, had a very strong symbolic power. The event brought together the elite of the Israeli and Moroccan business community to identify business opportunities, have the businesspeople get to know each other and set up partnerships and joint ventures (JV), or have synergies play between the two economies that are both different but complementary. This 1st Forum is co-organized by the General Confederation of Moroccan Enterprises (CGEM) and the Israeli Employers Business Organizations (IEBO).
This first meeting of its kind was a great success with the participation of more than 200 business leaders, decision makers and leaders representing the two countries. The event also coincided with the opening of Royal Air Maroc’s first flight service linking Casablanca to Tel Aviv. The same inaugural RAM flight carried the CGEM delegation chaired by Chakib Alj. During the plenary session, the Moroccan «bosses’ boss» said that «this highly symbolic forum comes to consolidate cooperation and partnership between businessmen … Since the signing of the Abraham Agreements between Morocco and Israel in 2020, exchanges and partnerships are multiplying between the two countries. Bilateral cooperation is growing considerably. It is up to businesspeople to take over and transform this vision into sectors of common interest, and especially to intensify trade in order to translate the partnership into business opportunities… Many opportunities are to be found in key sectors such as agriculture, industry, tourism, health, education, water, technology, R&D…».
For the president of the CGEM, the current global geostrategic context could open windows of opportunity between Morocco and Israel… The First Economic Forum was marked by the signing of a strategic partnership between the CGEM and its Israeli counterpart (IEBO). This «strategic partnership agreement» now represents the roadmap to facilitate and promote trade relations and exchanges between the two countries.
This partnership comes after the signing of a cooperation agreement on trade and investment between Morocco and Israel, following the visit of the Minister of Economy and Industry Orna Barbivai last February in Rabat. With this agreement, Israel and Morocco are aiming for an annual trade volume of 500 million US dollars, compared to the current 131 million. Since the normalization of relations in December 2020, the two countries intend to expand the areas and perimeters of cooperation. They are committed to facilitating trade and investment in both directions including industry, automotive sectors, renewable energy, agribusiness, agriculture, textile and clothing, services, pharmaceuticals, technology, education, health, and other sectors.
Start-up Nation
The case studies of the Israeli economy include companies specializing in services, digital, technologies, and start-ups… Morocco is betting heavily on sharing experiences with the Start-Up Nation Center. A rich, diversified, and quite developed ecosystem… The UM6P (Mohammed VI Polytechnic University) is in the process of setting up partnerships in this area in order to develop partnerships and research programs in knowledge technologies, or around the themes of water, energy, food, industry 4.0… Another forum will be held in Morocco next May to deepen the reflection on partnerships in digital, innovation, R&D… with the microcosm of the Moroccan Tech. These are just the first steps of economic cooperation between the two countries. The challenge, according to members of the business community, will be to pave the way to involve public opinion and civil society in both countries to this new momentum. The challenge is to reestablish ties while intensifying trade, develop flows by speeding up joint ventures, or sharing experience and know-how… Eventually, FDIs (Foreign direct investments) will be rolled out in both directions and, why not, maybe even consist of joint projects including industrial parks and logistics platforms… Some people already speak of the birth of a new economic hub in the Mediterranean. A model that shows the way to other countries in the region… The whole challenge is there! The second part of the Morocco-Israel Economic Forum was devoted to Business to Business (BtoB) meetings to identify areas of interest and consider partnerships or even joint ventures.
From our special envoy to Tel Aviv, Amin RBOUB
