Economic & Investment prospects for signing UAE-Israeli peace agreement

The UAE Minister of Economy sheds light on the economic and investment prospects for the signing of the UAE-Israeli peace agreement.

Abdullah bin Touq Al Mari, Minister of Economy of the United Arab Emirates, affirmed that the signing of the UAE-Israeli peace agreement between the United Arab Emirates and Israel would open new horizons for economic cooperation between the two countries in a way that serves their mutual interests and strengthens the foundations for sustainable development at the regional level.

UAE-Israeli peace agreement economic implications

The importance of the economic implications of signing the UAE-Israeli peace agreement, based on its role in stimulating trade and investment cooperation in various fields between the UAE and Israel, as well as at the regional level.

He highlighted the new opportunities available at the business level and the most important sectors proposed for cooperation between the two countries during the next stage, explaining: “We have promising opportunities for cooperation in vital sectors that serve the two countries’ future economic development agenda, foremost among which are medicines, energy, life sciences, food security, financial services, tourism and travel. In addition to the fields of space, defence, security, research and development. ”

This came during participation in a joint virtual seminar hosted by the American-Emirati Business Council and the American-Israeli Business Initiative of the American Chamber of Commerce, with the support of the “Commercial Office of the UAE Embassy in Washington.”

Symposium of the UAE-Israeli peace agreement

The symposium was held on the sidelines of the participation of His Excellency Bin Touq as part of the UAE delegation visiting the United States of America to officially sign the UAE-Israeli peace agreement under which relations between the UAE and Israel will be normalized, making the country the third Arab country and the first Gulf country to establish diplomatic relations with Israel.

The symposium was attended by more than 500 members from business and corporate councils and chambers of commerce and industry, most notably the Emirati-American Business Council, the American Chamber of Commerce, the Israeli-American Business Council and the boards of a number of international companies.

UAE-Israeli economic and commercial relations

Bin Touq explained during the symposium that the Emirati and Israeli sides will work together during the next phase to explore opportunities for partnership and development of vital joint projects between the business communities in the two countries, noting that “the outcomes of this historic treaty will open new horizons for trade and investment, and capital flows and commercial activities will return with immediate benefits. On both the UAE and Israel, and it will contribute to enhancing the growth and recovery of the private sector in the two countries, and this will positively affect the regional economic scene in general.

Bin Touq referred to the vital contribution of the American business sector in strengthening and consolidating the UAE-Israeli economic and commercial relations, stressing that American investors and companies can play a fundamental role in this regard as they are a link through their headquarters and offices in both the UAE and Israel.

UAE government strategic plan

In addition, Bin Touq reviewed the most prominent economic trends and goals of the UAE government during the next phase, focusing on its strategic plan and its 33 flexible and integrated package of initiatives to support the national economy and enhance its sustainability, which comes within the framework of its efforts to face the economic challenges resulting from the spread of the COVID-19 pandemic. To accelerate the pace of growth, activate business activities in various vital sectors, enhance the competitiveness and resilience of the country’s economy, and develop a long-term economic development model.

Source: WAM
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