Written by 11:26 am Economy

Morocco-Israel trade exchange drops by 60% amid war on Gaza

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Trade exchange between Morocco and Israel has recorded “a considerable decline” in 2024, amid the ongoing aggression against Palestinian civilians in Gaza, dropping by 60%, especially in the trade involving goods, reported Israeli news outlet i24 News.

The significant decrease was accompanied by the suspension of flights between the two countries.

Citing multiple Israeli sources, the Israeli news outlet mentioned that this sharp decline happened after the two countries experienced a record increase in trade in 2022, reaching 128%.

i24 News stated that Israel did not achieve its trade volume objective with the Kingdom due to the ongoing war in Gaza.

It also noted that the Israeli Minister of Economy, Orna Barbivai, previously expressed her country’s goal to reach an annual trade volume of $500 million during her visit to Morocco in mid-2022.

“It has become challenging to achieve under the current circumstances due to escalations in various regions worldwide, particularly the war in the Gaza Strip,” according to the Israeli news outlet.

It also highlighted that trade volume between the two countries amounted to $180 million in 2022.

The said source recalled Morocco’s stance on the ongoing Israeli aggression against Gazans, noting that the Kingdom had called for a ceasefire last week during the 55th session of the Human Rights Council in Geneva.

“Gaza is experiencing an unprecedented crisis and a humanitarian disaster that the international community cannot continue to turn a blind eye to,” said Nasser Bourita, Morocco’s Foreign Affairs Minister.

Bourita stressed the importance of providing sufficient humanitarian aid to Gaza residents and protecting Palestinians from displacement. He also reiterated the kingdom’s support for a two-state solution with East Jerusalem as the capital of a Palestinian state based on the June 1967 borders.

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