Israeli Economist signs agreement to finance investments with Morocco
The two ministries agreed to establish a joint economic team and outline future agreements.
By JERUSALEM POST STAFFIsrael's National Security Adviser Meir Ben-Shabbat is seen speaking in Rabat during a joint US-Israeli delegation to Morocco on December 22, 2020.(photo credit: DAVID AZAGURY/US EMBASSY JERUSALEM)
Chief Economist at the Finance Ministry Shira Greenberg has signed an agreement for investments in finance with the Ministry of Economy and Finance in Morocco.The agreement was signed Tuesday night as part of an official delegation of the Israeli government to Rabat, the capital of Morocco, to promote relations between the two countries in light of the normalization agreements.Part of the agreement includes the promotion of various economic collaborations, including cooperation to lower investment barriers, exchange of information in the areas of financial regulation and the prevention of money laundering and terrorist financing.In addition, the two ministries agreed to establish a joint economic team and outline future agreements to be signed between the Israeli Finance Ministry, the Moroccan Ministry of Finance and Economy, and financial regulators between the two nations.The signing was preceded by a meeting of the Chief Economist and the Economic Team with the Moroccan Minister of Economy and Finance in which they detailed the specific agreements, areas and projects that the parties are interested in promoting, and agreed to operate and produce the infrastructure that will enable private sectors to promote and strengthen economic activity.Israel Katz, the Minister of Finance says that "this is a great and historic day for the states of Israel and Morocco. For years, we have maintained contact with Morocco and now these ties will only strengthen. This is an important and happy step for the Israeli economy. After years of practical isolation from the surrounding economies, the government and the Ministry of Finance under my leadership are breaking down the barriers and paving new paths for the Israeli economy. This is another step in favor of economic peace and the transformation of Israel to a leading regional economic center with trade ties throughout the Middle East."Chief Economist Shira Greenberg continues by stating that "Morocco joins a number of countries in the region with which we have signed agreements in the field of investment and finance, and together with them will contribute to increasing the growth potential of Israel and the region as a whole. We estimate that there is potential to increase trade with Morocco. It is necessary and important to promote the realization of this potential."Israel and Morocco agreed to establish diplomatic relations two weeks prior in what US President Donald Trump called "another historic breakthrough." Since then, a number of new connections were formed between the countries, including various business agreements and memorandums of understanding.
