Israel and the UAE have begun negotiations to reach a free trade agreement.
The Israel’s Minister of Finance said Israel and the UAE have begun negotiations to reach a free trade agreement.
Minister Ornea Barbieu held a long-distance meeting with his Emirati counterpart Abdullah bin Tawq al-Marri to begin talks. The foreign minister added that senior Israeli officials from the negotiating team are currently visiting Dubai, which will continue until Thursday for further talks.
The UAE normalized its relations with Israel last year and trade between the two countries increased significantly. Trade in goods alone has reached about $ 500 million since the beginning of 2021, up from $ 125 million in 2020 as a whole. To continue increasing
“This agreement will greatly increase trade between the two countries, remove barriers and expand economic cooperation,” Barbiei told Al-Marri, according to the Israeli Ministry of Economy.
Ohed Cohen, director of the ministry’s foreign trade department and head of Israel’s negotiating team, said he intends to reach an agreement with the UAE on issues related to trade in goods and services, regulatory procedures, government procurement, e-commerce and the protection of intellectual property rights.
