Dr. Raphael Nagel, chairman of the Abrahamic Business Circle and general manager of a Dubai-based private equity firm, says that his organization believes in economic diplomacy and building bridges between peoples. Speaking with Yaakov Katz at the virtual UAE-Israel Business Summit, Nagel said his group’s primary aim is creating strong relationships between Israel, the United Arab Emirates, and the rest of the world. “The UAE is an amazing business platform and is a global hub,” said Nagel. “We see it not only as a market for the UAE itself but as a trading point for the rest of the Middle East.”
Nagel pointed out that there are numerous business opportunities for Israelis doing business in the Emirates in such areas as agriculture, cyber-security, and health care, and the many additional investment opportunities in the region. He predicted that trade volume between Israel and the United Arab Emirates would reach $5 billion annually.
Members of the Abrahamic Business Circle, said Nagel, come from countries throughout the region, including Pakistan, Sudan, Morocco, and Algiers, and are trying to create a global business network of contacts for the exchange of ideas.
When asked by Katz for advice to Israelis on conducting business in the Emirates, Nagel answered, “Be as transparent and straightforward as possible, and enjoy the country. It’s an amazing place to do business.”