Initialed by CGEM President Chakib Alj, President of IEBO and of Manufacturers Association of Israel (MAI) Ron Tomer as well as by President of the Federation of Israeli Chambers of Commerce (FICC) Uriel Lynn, this partnership will help establish an open and permanent dialogue between CGEM and IEBO, which will combine their efforts to create strong synergies between the respective business communities in key sectors. They will also establish an exchange of information and experience in areas of common interest such as import/export, Research and Development (R&D), innovation and technology.

"We are confident that this agreement constitutes a new step towards a strong, lasting partnership that creates synergies between Moroccan and Israeli companies," said Alj in a statement to the press on the sidelines of the signing ceremony, adding that the reviving of relations between Morocco and Israel opens very promising economic prospects, namely a significant potential in terms of trade and investment opportunities that the Moroccan and Israeli private sectors can benefit from at the local, regional or global level, particularly with regard to the comparative advantages which the two countries have in different sectors such as tourism, agribusiness or technology and innovation.

"A few months ago, we witnessed the diplomatic actions bringing the two countries closer, under the insightful leadership of HM King Mohammed VI, and we are happy with this dynamic," he noted.

For his part, the president of IEBO and MAI said he was happy to participate in the renewal of economic and trade relations between Israel and Morocco. "The roots of many Israelis lie in Morocco where for many years a large Jewish community flourished. Therefore, it is only natural for us today to renew and strengthen the relationship between our two countries, by creating a real long-term partnership in favor of the promotion of trade cooperation. I would also like to thank the CGEM for this important and historic agreement", he underlined.

For his part, the FICC president affirmed that Israel and Morocco have "a strong, long-standing relation". Thanks to its geographical location, Morocco could be a bridge to North Africa for Israeli companies, he noted, adding that Morocco offers a competitive import platform for the automotive, agricultural, food, textile and chemical industries.

Lynn also said that Israel could contribute to the development of Morocco in the fields of modern agriculture, technological equipment, irrigation and water technologies, solar energy and technological cooperation with the EU. 

The president of the Morocco-Israel Business Council Steve O'Hana noted that "this partnership will be fruitful given the motivations of Moroccan and Israeli operators.

"I am honored and proud to chair the Morocco-Israel Business Council and I would strive to ensure that our trade is beneficial to our two countries," he said.

As part of this strategic partnership, the CGEM and IEBO have set up a bilateral Business Council to promote cooperation between the two private sectors, in particular through the exchange of trade missions, the organization of B2B events and the establishment of Moroccan companies in Israel and Israeli companies in Morocco. This Morocco-Israel Business Council is chaired by O'Hana on the Moroccan side.

The IEBO brings together the Manufacturers Association of Israel (MAI), the Federation of Israeli Chambers of Commerce (FICC) and the Israeli Agriculture Organization (IAO).