Future Of The Accords
The Abraham Accords paves the way for limitless economic opportunity and represent a significant opportunity for increased economic prosperity for the participating countries. According to the Rand Foundation, the Abraham Accords, when fully realized, could create as many as 4 million new jobs and $1 trillion in new economic activity in its first decade, as well as aiding the regional recovery from the Covid-19 pandemic.
As diplomatic relations are established and embassies are opened, economic productivity follows. In the aftermath of normalization of relations between the countries, close to one quarter of a million Israelis had visited the United Arab Emirates by August 2021. Since normalization of relations, direct flights have begun between Israel and Morocco, a country back to which many Israelis can trace lineage. In September 2021, Bahrain’s national carrier Gulf Air announced the launch of two direct flights between Bahrain and Tel Aviv per week.
In the first year since the Abraham Accords were signed, the spectacular economic opportunities it provides has already been demonstrated in spite of the obstacles presented by a global pandemic. Even excluding tourism and services, trade between Israel and Arab countries of the Middle East grew by 234 percent in the first seven months of 2021 compared to the same period in 2020. Trade between Israel and the United Arab Emirates, the first of the Abraham Accords countries to normalize relations with Israel, increased from $50.8 million in the first seven months of 2020 to an astonishing $613.9 million in the first seven months of 2021. As the commercial ties between the participating countries grow deeper, the economic benefits will increase the bonds between the countries and their people, as well as demonstrate to potential future signatories the tangible benefits of signing on to the Abraham Accords.
At the Abraham Accords Peace Institute, we encourage efforts to promote interfaith and intercultural dialogue to advance a culture of peace among the three Abrahamic religions and all humanity.
We believe that the best way to address challenges is through cooperation and dialogue and that developing friendly relations among States advances the interests of lasting peace in the Middle East and around the world.
$4 Billion
2023 trade with Accords Countries
16%
Increase in 2023 trade year over year
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