Morocco, Israel Sign Trade Deal

This combination of file pictures created on December 10, 2020 shows a Moroccan flag off the coasts of the city of Cayenne on March 21, 2012 and an Israeli national flag on September 23, 2020. (AFP)

Morocco and Israel on Monday signed a trade agreement to facilitate investments as the two countries look to broaden cooperation since they normalized relations in 2020.

The deal was signed in Rabat by Israeli Economy Minister Orna Barbivai and Moroccan Trade Minister Ryad Mezzour, Reuters said.

Barbivai told a news conference Israel aspires to increase trade with Morocco from $131 million currently to $500 million “soon.”

Morocco was one of four Arab countries – along with the United Arab Emirates, Bahrain and Sudan – to move towards normalizing ties with Israel last year under US- engineered accords.