Israel and the United Arab Emirates work on a free trade agreement, which will reduce tariffs and introduce other economic benefits, facilitating trade and strengthening cooperation between them. This is another sign of rapidly developing connections that have arisen as a result of abraham agreements, writes JNS.
News became a kind of surprise when the Israeli Ambassador to the UAE Amir Hayek announced her during the business conference in Abu Dhabi, on which business leaders and entrepreneurs were gathered from two Middle Eastern countries.
“Our ambassador turned to the gathered, as well as to the Minister of Commerce of the United Arab Emirates, saying:” We must work on a free trade agreement, and should do it, as quickly as possible, “said the media Dan Katarivas, General Director of Foreign Trade and international relations in the Israeli Production Association.
The greatest value of the free trade agreement will be to its symbolism, said Catarivas, noting that the UAE customs tariffs are relatively low and amount to 5 percent. “The agreement shows that countries have a good relationship,” he said.