UAE-Israeli bilateral trade exceeds $675m since signing of Abraham Accords

The non-oil bilateral trade between UAE and Israel has reached more than $675 million since the signing of the Abraham Accords last year, Dr Thani Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade told the UAE-Israel forum in Abu Dhabi.

In his keynote speech at the Beyond Business forum in Abu Dhabi on Sunday evening, Al Zeyoudi said the Abraham Accords has provided a constructive ground for achieving exceptional growth and significant achievements in the economic partnership between the two countries and the launch of trade and investment cooperation ties between the UAE and Israel at a rapid pace in record time.

“Since the signing of the Abraham Accords, a number of agreements have been signed in areas such as Artificial Intelligence (AI), cyber security, food, water security, energy and others,” he said.

“Six major deals have been signed between entities from both countries in areas of technology, tourism, health, energy, environment and many will be announced soon.”

The Beyond Business forum was co-organised by Israel, the UAE Ministry of Foreign Affairs and Abu Dhabi Investment Office (ADIO) in celebration of a year since the signing of the historic Abraham Accords in September last year.

The UAE minister noted that Abu Dhabi’s Mubadala Petroleum had signed a $1 billion deal for a 22 per cent stake in the Tamar offshore gas field offshore from Israel’s Delek Drilling.

“Our relationship with Israel is robust, and we are still working together to push forward the economic agendas to boost foreign trade between both countries,” said Al Zeyoudi.

— ismail@khaleejtimes.com