This weekend, Israeli Foreign Minister Eli Cohen and United Arab Emirates Ambassador to Israel Mohamed Al Khaja have signed a bilateral customs pact in Jerusalem. It was the most important and final part of a historic free trade agreement between the two countries. The free trade agreement covers 95% of bilateral trade, which reached $885 million in 2021 and has kept growing. The deal covers a wide range of products, such as medical equipment, agricultural products, food and cosmetics.
Prime Minister Benjamin Netanyahu, who attended Sunday’s ceremony, welcomed the realization of the free trade agreement: “The historic peace accord we signed with the UAE continues to bear fruit for the benefit of the citizens of both countries. I am positive that we will continue to expand Israel’s circle of peace with other regional neighbors.”
UAE representatives also welcomed the trade agreement’s finalization.
Source: allisrael.com