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Israel And UAE Sign Free Trade Agreement

MIDEAST

Israel and the United Arab Emirates have concluded talks on a free-trade agreement. The agreement will be the first such treaty between Israel and an Arab state in the Middle East.

  • The move is the latest development in rapidly improving ties between Israel and Arab neighbours. This week a summit between Israel, UAE, Morocco, and Egypt in Negev, Israel was announced as a permanent summit for regional cooperation.
  • Israeli Economy Ministry said in a statement: 'The trade agreement makes 95% of traded products customs free immediately or gradually. Covering food, agriculture, cosmetic products, medical equipment, and medicine.'
  • Israeli Prime Minister Naftali Bennett: 'This is an important moment in relations between the State of Israel and the UAE.'

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