Israel’s trade with Abraham Accords states increased sharply since last year, the Abraham Accords Peace Institute found.Trade between Israel and Morocco in January-May of 2023 increased by over 110% compared to the first five months of 2022.Israel-United Arab Emirates trade grew by nearly 42% in the first five months of 2023 compared to the same period last year, and trade between Israel and Bahrain grew about 24%.
Ties between Abraham Accords nations continue to grow
The Abraham Accords Peace Institute based its findings on data from the Israeli Central Bureau of Statistics.Israel fully normalized relations with the UAE and Bahrain in September 2020, in what was called the Abraham Accords. Morocco, which previously had low-level diplomatic ties with Israel that it cut off in 2000, soon followed, and the countries exchanged liaison offices that they have said will be upgraded to embassies.Despite growing trade between Israel and Abraham Accords partners, AAPI deputy director for Israel David Aaronson wrote that “the trade numbers... are far below what they could or should be.”
“The opportunities for Abraham Accords trade have not reached their full potential. In fact, they have only scratched the surface,” he argued.