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Dubai FDI operates under the Dubai Economy umbrella, and will jointly work with its Israeli partner to smooth out investment flows. Image Credit: Virendra Saklani/Gulf News

Dubai: Dubai’s Investment Development Agency (Dubai FDI) is looking at possible cross-border and investment opportunities with Manufacturers’ Association of Israel.

Annual trade between Israel and the UAE is expected to reach more than Dh14 billion within three to five years. Dubai has already concluded trade deals valued at more than Dh1 billion with Israel in the five months following the accords, between September 2020 and January 2021.

“Today we are writing a success story of business and investment partnerships between Israel and Dubai, based on the determination and sincere desire of both sides to strengthen bilateral relations,” said Fahad Al Gergawi, CEO of Dubai FDI.

More to come
Dubai FDI has organised and conducted a series of industry-specific investment webinars with potential Israeli investors in healthcare, technology, and food and agribusiness. More such missions are on the cards for 2021.

“As a connected smart city, Dubai has been at the forefront of rolling out strategic initiatives and innovation across sectors," said Fahad Al Gergawi, CEO of Dubai FDI. "This enhances the emirate’s preparedness to respond to investor needs and ensure investment flows."

This alliance will work on attracting companies to Dubai and Israel, host joint events, and support reciprocal visits of government and industry representatives.