Israel and UAE Celebrate the Start of a New Era in Trade Relations as Free Trade Deal Takes Effect

 

The historic free trade agreement between Israel and the United Arab Emirates (UAE) has officially come into effect, marking a significant milestone in the relationship between the two countries. The deal, which was signed in May 2022, is the first economic agreement between Israel and an Arab country.

On Sunday, officials from both countries signed a customs agreement that paved the way for the free trade agreement to take effect. The customs agreement was signed by Israeli Foreign Minister Eli Cohen and UAE Ambassador to Israel Mohamed Al Khaja in the presence of Israeli Prime Minister Benjamin Netanyahu.

The free trade agreement is expected to bring numerous benefits to both countries. By reducing customs duties and lowering the cost of living, it is expected to increase business between Israel and the UAE. This will lead to new opportunities for growth and expansion for Israeli companies, as they will have access to UAE government tenders.


In addition to the economic benefits, the free trade agreement is also expected to have political implications. The deal is seen as a major step towards greater cooperation and normalization between Israel and Arab countries in the region.

The signing of the free trade agreement is just one of many developments that have taken place between Israel and the UAE since they established diplomatic relations in 2020. The two countries have already signed a number of agreements in the areas of tourism, aviation, and energy.

The relationship between Israel and the UAE has been hailed as a model for other Arab countries to follow. It has also been viewed as a sign of changing attitudes towards Israel in the region, with other Arab countries considering establishing diplomatic relations with Israel.

The success of the free trade agreement will depend on the ability of both countries to implement it effectively. However, the fact that it has come into effect is a positive step towards greater economic cooperation and normalization between Israel and the UAE.

In conclusion, the historic free trade agreement between Israel and the UAE is a significant milestone in the relationship between the two countries. It is expected to bring numerous benefits for both countries and is a sign of changing attitudes towards Israel in the region. As the agreement is implemented, it will be interesting to see how it affects the relationship between Israel and the UAE, as well as the wider Middle East region

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