The UAE and Israel formally established relations in 2020 as part of the US brokered AbrahamAccords that also included Bahrain and Morocco. After formally establishing the ties, Israel and UAE have concluded negotiations for a “milestone” freetradeagreement.
The latest agreement included 95% of traded products, which would be customs free, immediately or gradually, including food, agriculture, and cosmetic products, as well as medical equipment and medicine.
UAE Minister of State for Foreign Trade, Thani Al Zeyoudi said on Twitter that this milestone deal will build on the historic Abraham Accords and cement one of the world’s most important and promising emerging trading relationships.
The agreement is yet to be #igned and ratified by both the Countries to come into effect.
Source Nirav Rajput
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