JERUSALEM, March 15 (Xinhua) -- The visiting General Confederation of Businesses of Morocco (CGEM) and two leading Israeli business organizations have inked a cooperation agreement in Tel Aviv on Tuesday.
The Manufacturers Association of Israel (MAI) said the agreement was reached during the first visit of a senior Moroccan businesspersons' delegation since the two countries renewed their diplomatic ties in December 2020, the MAI said in a statement.
The deal, signed between CGEM, MAI, and the Federation of Israeli Chambers of Commerce, aims to promote trade relations, facilitate joint B2B events and help companies to do business in each other's country, the MAI said in a statement.
The Moroccan delegation includes 80 senior members from industrial sectors such as automotive, aerospace, food and beverage.
Israel signed a bilateral agreement with Morocco in February aiming to expand annual trade volume to 500 million U.S. dollars within the next five years. ■