UAE highlights economic achievements of Israel ties after a year of Abraham Accords

The UAE realized “exceptional growth and significant economic achievements” in its partnership with Israel since year passed after the signing of the Abraham Accords, Emirati Minister of Economy said on Tuesday.

The UAE signed the US-brokered Abraham Accord, agreeing to normalize relations with Israel in September 2020. Since then, the two countries have accelerated establishing trade and investment ties and there has been a marked increase in tourism exchange.

The UAE’s minister Abdullah bin Touq al-Marri highlighted some of the major achievements: non-oil trade exchange rate of nearly $700 million, and nearly 60 major agreements were signed at the government and private sector levels.

“[The agreements] cover a number of important future sectors that play a great important role on the economic agenda of the two countries, such as science and technology, artificial intelligence techniques, tourism, logistics, transportation, healthcare, energy, environment, research and development, modern agriculture, water solutions and irrigation,” al-Marri said.

"The next stage will witness more agreements and memoranda of understanding to further expand the scope of economic, trade and investment cooperation between the two countries and to achieve new levels of progress in the growing relations," he added.

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