Economic Impact
Israel reaches record trade increase with Arab States under Abraham Accords
July 03, 2022
Trade with Jordan increased by 54 percent from last year amounting to $55 million
Trade between Israel and the United Arab Emirates reached $201.4 million in May 2022, a 130 percent increase compared to May 2021, Abraham Accords Peace Institute announced.
According to the institute’s June newsletter, trade with Jordan increased by 54 percent from last year amounting to $55 million, followed by Egypt with a 41-percent increase and $23.6 million. Morocco reached $3.1 million in trade deals with the Jewish state in May, marking a 94-percent increase from 2021. Meanwhile, Israel’s trade with Bahrain went from none to $1.2 million within a year.
“Trade ties broke even last month’s records, and June saw many exciting developments in the innovation, diplomatic and academic spheres,” Asher Fredman, Director for Israel at the Abraham Accords Peace Institute, said in a Twitter post.
Earlier in June Emirates Airlines completed its first passenger flight between Dubai and Israel, marking the start of daily service from Dubai to Tel Aviv for the airline.
Morocco has also announced that starting from July 10th, Israeli citizens will be eligible for e-visas to enter the country, ending the requirement for Israeli nationals to make appointments for interviews at the Moroccan liaison office in Israel.
Israel’s Defense Ministry said earlier on Saturday that three military observerstook part in “African Lion 2022” in Morocco this week, the first such occasion for Israeli military in the kingdom.
The US-brokered Abraham Accords are a joint agreement between Israel, Bahrain, and the United Arab Emirates (UAE) to normalize relations signed in August 2020, with Sudan and Morocco later included.