Abu Dhabi: The UAE and Israel have officially launched talks to reach a comprehensive economic partnership agreement to deepen economic and investment relations between the two countries under the umbrella of the Abraham Accord.
“We continue to work on implementing the 50 projects launched by the UAE government, including the comprehensive economic partnership programme with eight global markets, as part of the UAE’s ambitious strategy to build a future economy with more competitive components, in line with the goals of the UAE Centennial 2071,” said Abdullah bin Touq Al Marri, Minister of Economy.
The partnership agreement between the two countries, when concluded after the successful completion of the talks, aims to strengthen economic relations, promote trade exchange to higher levels, create a wealth of new investment opportunities for companies of the two countries and the region, and establish a new phase of joint cooperation to achieve peace, prosperity and regional stability.
“More than a year has passed since the conclusion of the Abraham Accord between the UAE and Israel, as an expression of their common desire to promote peace, stability and prosperity in the Middle East. Undeniably, the accord has yielded enormous economic opportunities and achieved many benefits at the regional level, which would push the process of economic and social development in the two countries forward and also regionally,” Al Marri said.
The economic partnership greement aims to build on the development achieved in economic relations between the two countries during the last period, as the value of bilateral trade amounted to more than Dh 3.5 billion in a year since the signing of the Abrahamic Peace Agreement in September 2020 until the end of September 2021. Non-oil foreign trade between them also touched Dh2.9 billion during the first nine months of this year.