The electronic states and direct interband light absorption are studied in the cylindrical quantum dot with Morse confining potential made of GaAs in the presence of parallel electrical and magnetic fields. Within the framework of perturbation theory and variation method expressions are obtained for the particle energy spectrum. The effect of the external fields on direct interband light absorption of cylindrical quantum dot is investigated. Selection rules are obtained at presence of parallel electrical and magnetic fields. The dependence of the absorption threshold on geometrical parameters of quantum dots and intensities of external fields is obtained.