Today, Tuesday, the UAE and Israel announced the launch of bilateral talks to reach a comprehensive economic partnership agreement.
Emirati and Israeli media reported that the talks started via video call, with the participation of Abdullah bin Touq Al Marri, UAE Minister of Economy, and Orna Barbivay, Israeli Minister of Economy, in the presence of Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Mohammed Al Khaja, UAE Ambassador to Israel.
The comprehensive economic partnership agreement between the two countries, if reached, aims to strengthen economic relations, promote trade exchange to higher levels, and create a wealth of new investment opportunities for companies of the two countries.
Before launching the talks, the UAE Minister of Economy said that his country continues to develop its economic model to be more sustainable, flexible and open to global markets.
He added, "It has been more than a year since the conclusion of the Abrahamic Peace Agreement between the UAE and Israel, as an expression of the common desire to promote peace, stability and prosperity in the Middle East."
He continued, "During this period, we worked on utilizing the new diplomatic relations between the two countries to enhance economic partnership and develop trade, investment, tourism, industry and scientific and technological cooperation at the bilateral and regional levels."
For her part, the Israeli Minister of Economy stated that "the launch of these official talks will contribute to strengthening cooperation and discussion during the next stage, with the aim of reaching a comprehensive economic partnership agreement that contributes significantly to the development of trade between the two countries."
She expressed her ambition that the agreement, when completed, would serve the business communities in the two countries, and would create wide opportunities in a number of sectors of common interest.
The value of trade exchange between "Israel" and the UAE amounted to more than 3.5 billion dirhams (about $950 million) in a year since the signing of the peace agreement between the two parties, in September 2020, until the end of September of this year 2021.
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