{"id":222568,"date":"2022-04-01T22:42:28","date_gmt":"2022-04-01T22:42:28","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=222568"},"modified":"2022-04-01T22:42:28","modified_gmt":"2022-04-01T22:42:28","slug":"uae-israel","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/uae-israel\/","title":{"rendered":"UAE, Israel sign free trade agreement"},"content":{"rendered":"<p style=\"text-align: justify\"><strong>Abu Dhabi, (Business News Report)||<\/strong> Israeli media has announced that the UAE and Israel have completed a free trade agreement to be formally signed within days.<\/p>\n<p style=\"text-align: justify\">In a statement, the Israeli Ministry of Economy described the agreement reached as &#8220;comprehensive and important.&#8221;<\/p>\n<p style=\"text-align: justify\">The ministry also confirmed that the free trade agreement includes regulations, customs, services, government procurement and e-commerce.<\/p>\n<p style=\"text-align: justify\">For his part, UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi said, in a tweet on Twitter: &#8220;<span class=\"css-901oao css-16my406 r-1k78y06 r-bcqeeo r-qvutc0\">The new deal paves the way for our business communities to start a new era of collaboration in priority sectors such as agri-tech, med-tech, new energy solutions and advanced technology.&#8221;<\/span><\/p>\n<p style=\"text-align: justify\">Last Tuesday, Al-Zeyoudi revealed that free trade negotiations between the two sides had ended before the end of this week.<\/p>\n<p style=\"text-align: justify\">He stressed that the UAE will be a country of steady growth for Israeli companies during the coming period, noting that the volume of trade exchange between them recently witnessed a jump, reaching $1.2 billion within 14 months, after the announcement of the normalization of relations between the two sides in 2020.<\/p>\n<p style=\"text-align: justify\">According to Israel Radio&#8217;s Arab affairs correspondent, Roi Case, Israeli Economy Minister Orna Barbibay led the negotiations, accompanied by Prime Minister Naftali Bennett and Foreign Minister Yair Lapid.<\/p>\n<p style=\"text-align: justify\">Last February, the Hebrew newspaper Globes revealed that Abu Dhabi would invest $10 billion in Israeli companies, while the UAE announced the establishment of a huge investment fund for this purpose.<\/p>\n<p style=\"text-align: justify\">Finally, the Israeli President, Isaac Herzog, and Prime Minister, Naftali Bennett, visited Abu Dhabi, and Herzog announced that the volume of Tel Aviv&#8217;s trade with Abu Dhabi amounts to more than one billion dollars, and that the coming period will witness a jump in this number.<\/p>\n<p style=\"text-align: justify\">A few days ago, the UAE ambassador to Israel, Mohammed Al Khaja, said that the two countries are looking forward to concluding a comprehensive economic partnership agreement before the end of March 2022.<\/p>\n<p style=\"text-align: justify\">In addition, Reuters reported, on Friday, that a unit of the Emirati <a href=\"https:\/\/www.google.com\/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=&amp;cad=rja&amp;uact=8&amp;ved=2ahUKEwjjqJan9_P2AhWWR_EDHS5KBHMQFnoECBAQAQ&amp;url=https%3A%2F%2Fwww.mubadala.com%2F&amp;usg=AOvVaw2U4IJNiq-Oq0wg-WBS-NW-\">Mubadala<\/a> company obtained a loan of about $720 million, to complete a deal to acquire a stake in the Israeli Tamar gas field.<\/p>\n<p style=\"text-align: justify\">Emirati-Israeli relations have witnessed significant growth since the normalization of relations between them nearly two years ago.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Abu Dhabi, (Business News Report)|| Israeli media has announced that the UAE and Israel have completed a free trade agreement to be formally signed within days. In a statement, the Israeli Ministry of Economy described the agreement reached as &#8220;comprehensive and important.&#8221; The ministry also confirmed that the free trade agreement includes regulations, customs, services, [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":222569,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2081],"tags":[278,691,512],"class_list":["post-222568","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-2081","tag-featured","tag-israel","tag-uae"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>UAE, Israel sign free trade agreement | BNReport<\/title>\n<meta name=\"description\" content=\"BNReport| Israeli media has announced that the UAE and Israel have completed a free trade agreement to be formally signed within days.\" 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