Emirates news agency – Bin Touq claims significant growth in UAE-Israel trade relations since signing of Abraham’s accords


ABU DHABI, September 13, 2021 (WAM) – Economy Minister Abdullah bin Touq Al Marri held a virtual dialogue session with the American Atlantic Council, a non-partisan think tank based in Washington.

The meeting reviewed the growing relationship between the UAE and Israel almost a year after the signing of the Abrahamic Accords.

Bin Touk said the Abrahamic accords provided a constructive ground for achieving exceptional growth and significant achievements in the economic partnership between the two countries and the launch of trade and investment cooperation relations between the UAE and Israel. at a rapid pace in record time. He added that this is an important catalyst for further growth and prosperity in UAE-Israel relations and in the region.

He said the UAE, under the guidance of its wise leadership, believed that the future of regional security depended on strong multilateral economic partnerships and a common commitment to achieve stability and prosperity, and Abraham’s accords help to realize these aspirations.

Bin Touk added, “The Abrahamic Accords generate broad and diverse economic opportunities for the UAE and Israel, and within one year a good non-oil trade exchange rate of nearly $ 700 million was achieved. In addition, nearly 60 major agreements between the authorities concerned in the two countries have been signed at the level of government and the private sector, apart from academic, cultural, research and other institutions. They cover a number of important future sectors which play a very important role in the economic agenda of both countries, such as science and technology, artificial intelligence techniques, tourism, logistics, transport, healthcare. health, energy, environment, research and development, modern agriculture, hydraulic solutions and irrigation.

“The efforts of the two countries in this regard continue and the next step will see more agreements and memoranda of understanding to further expand the scope of economic, trade and investment cooperation between the two countries and to reach new levels of progress in the growth of relations between them, ”he continued.

In addition, Bin Touk pointed out that the growth of economic and trade activity, and the increase in tourism trade and investment flow between the two countries would enhance growth and opportunities at a wider regional scale by pushing to greater economic integration between the countries of the region. This includes all sectors and will help increase opportunities for young people and lay the foundations for a more prosperous and sustainable future in various countries in the region.

Bin Touq also pointed out that the UAE’s hosting of Expo 2020 Dubai next month is an opportunity to boost UAE-Israel relations and attract more numbers. businessmen and companies from Israel to present their products, services and innovations in various sectors. “It will also serve as a platform to better inform them of various business and investment opportunities regionally and globally through direct communication with global companies and delegations at Expo 2020 Dubai. The event will also help attract more Israeli tourists to the UAE. and increase tourism and cultural exchange rates between the two countries, which will support their common interests. ”

Bin Touk explained that the UAE has fully completed preparations to receive global delegations from Expo 2020 Dubai while fully maintaining health and safety standards and COVID-19 precautionary measures in accordance with best standards. international. He noted that the UAE was among the top 10 countries in the world for COVID-19 vaccination rate, and among the top countries in the world in terms of the number of daily COVID-19 tests per capita. .

Bin Touq further asserted that all facilities will be provided to guests from UAE, including ensuring full readiness of infrastructure, hospitality, hotel and service sectors, including digital services and ICT applications, to ensure a unique and distinct experience for Expo 2020 Dubai. participants, including companies, businessmen, tourists and others.

The virtual session took place on the sidelines of an official visit of a high-level United Arab Emirates economic delegation to the United States, led by Bin Touq, which aimed to establish new frameworks for cooperation in all fields. The visit also aims to create broader trade and investment avenues to boost the two countries’ efforts to accelerate economic recovery and restore growth rates in the post-COVID-19 phase.

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