The thesis that the Abraham Accords are a partial realization of the Trump administration’s “deal of the century” is gaining momentum, as by the close economic ties emerging between Israel, the United Arab Emirates (UAE) and Bahrain, and through them, Saudi Arabia, too.

The first steps were taken by the governments of these countries, which signed agreements allowing for trade. There is good reason that one of the first Israeli delegations to the UAE in September was a senior business delegation. During that visit, the chief economist in Israel’s Finance Ministry signed a series of agreements allowing for investments between the two countries. These involved the kind of banking agreements that opened the financial pipeline, as well as agreements to promote cooperation in finance and investment.

In this context, the parties are now discussing advancing financial service cooperation and the removal of financial barriers to investments between the countries. Furthermore, they will promote joint investments in the market.

In October, the US State Department announced the creation of the Abraham Fund, an economic investment fund encompassing Israel, the UAE and the United States, which will invest as much as $3 billion in various projects. Through this fund, the US Division for Financial Cooperation will provide funding for investments in the private sector and for advancing regional cooperation. The Biden administration has already announced that it will continue to support and promote the Abraham Accords.