Israel and the UAE sign free trade deal in a bid to boost trade to $10B per year
Two-way trade between Israel and the UAE last year totalled some $900 million dollars, according to Israeli figures.
The pact was signed in Dubai on Tuesday by Israel's Minister of Economy and Industry Orna Barbivai and her counterpart, UAE Minister of Economy Abdulla bin Touq Al Marri, after months of negotiations. Emirati trade minister Thani Al Zeyoudi said the trade deal wrote "a new chapter in the history of the Middle East."signed, sealed and delivered, we have written a new chapter in the history of the Middle East. Our agreement will accelerate growth, create jobs and lead to a new era of peace, stability, and prosperity across the region.
UAE-Israel Business Council president Dorian Barak predicted that trade would soon multiply between the regional powerhouse economies.
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