DUBAI - Only nine months after the Abraham Accords were signed, UAE-Israel trade ties have grown in a wide range of fields, UAE Minister of State for Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi said at The Jerusalem Post-Khaleej Times Global Investment Forum on Wednesday.
“UAE-Israel relations are based on a long-term global agenda,” Al Zeyoudi said. “We are very vital partners supporting elements of bilateral trade to bring a wealth of benefits.”
Since the Abraham Accords were announced in September, trade between Israel and the UAE exceeded 1.3 billion dirhams ($300 million dollars), and the countries signed agreements in over 15 sectors, Al Zeyoudi added.
The minister hailed cooperation between the countries as a means “to grow a post-COVID economy, so we can continue to grow to benefit our younger generation.”
Ties between the UAE and Israel came as the Emirates are “exploring new ways to support and grow our startup ecosystem,” Al Zeyoudi stated.
The Global Investment Forum is “crucial for our countries,” he added, “following a year we have never seen before, full of economic challenges.”
Al Zeyoudi listed changes in the UAE’s regulations to encourage growth and strengthen its status as a global trading hub, including allowing 100% foreign ownership of companies in the UAE.
The UAE’s trade horizons go beyond the Middle East, the minister said, ranging from the Far East to Western Africa.