Emirates and Israel advance in their economic relationship
The United Arab Emirates (UAE) and Israel are continuing to develop various links at all levels following the pact reached in August and initialled in mid-September in Washington establishing diplomatic relations between the two countries, thanks to the intervention of Donald Trump's US government. Following the step taken by the Emirates, Bahrain joined in as another Arab country that recognises the Jewish state; all this is part of a strategy aimed at pacifying the Middle East region and normalising relations between the Hebrew country and its Arab neighbours, with the entrenched Palestinian conflict as the problem to be solved.
The economy is now benefiting from this understanding between the Emirates and Israel, and both nations are deepening their financial co-operation, which is very good news for Israel and the Gulf nation.
In this connection, the United Arab Emirates' minister of state for international cooperation, Reem bint Ibrahim al-Hashemy, and Israeli officials have extended economic collaboration between the two parties.
Reem bint Ibrahim al-Hashemy met this Wednesday with senior Israeli officials to discuss opportunities for collaboration following the historic peace agreement signed between the UAE and the State of Israel. In a meeting with the Israeli minister for regional cooperation, Ofir Akunis, the two parties discussed bilateral projects of interest and identified additional opportunities for multilateral cooperation in the region. The two ministers also discussed co-operation in the fight against COVID-19.
Al-Hashemy also met with Eli Cohen, Israeli Minister of Intelligence. Both sides committed themselves to strengthening relations between the United Arab Emirates and the Jewish State to the benefit of both countries. Furthermore, the two ministers discussed Israel's participation in the Dubai World Expo 2020, which will take place in the United Arab Emirates next year, and the Israeli minister confirmed that the construction of his country's pavilion for the world event is progressing well.
As reported by the official Emirates news agency WAM, the UAE minister reiterated the UAE's commitment to a two-state solution to the Palestinian conflict and the importance of ensuring that Palestinians have the opportunity to benefit from the recently reached peace agreement. The pact announced on 13 August aims to generate growth and development by expanding opportunities in the knowledge-based economy, promoting advanced technologies and innovation in key sectors and strengthening security and stability for the benefit of the region. Since the agreement was signed, the United Arab Emirates and Israel have taken steps to strengthen bilateral co-operation in many vital areas, especially in foreign affairs, food security and medical and health research, particularly in relation to efforts to combat the coronavirus pandemic.
The Abu Dhabi Investment Office (ADIO) has signed a cooperation agreement with the Israel Export Institute, laying the groundwork for strong trade bridges between Abu Dhabi and Israel by unlocking investment opportunities.
The agreement covers the facilitation of presentations with potential investee companies in both markets, the holding of joint events and support for government and industry delegations. ADIO will work closely with the Israel Export Institute to support trade and investment opportunities for Israeli companies, connecting them with strategic partnerships and resources to foster long-term success in the emirate.
