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With free trade agreement, Israel hopes to triple trade with Emirates

Israel and the United Arab Emirates already established a large scope of bilateral trade, but officials and businesspeople on both sides are persuaded that this is only the beginning.
Israel's Foreign Minister Yair Lapid (2nd L) and US Secretary of State Antony Blinken (2nd R) chat with Bahrain's Foreign Minister Abdullatif bin Rashid al-Zayani (R) and Emirati Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan (L), in Sde Boker, Israel, March 28, 2022.

The free trade agreement signed May 31 in Dubai between the United Arab Emirates (UAE) and Israel reflects the importance both countries accord to the economic ties and the diplomatic relations between them. Israel’s Economy and Industry Minister Orna Barbivai and Emirati Minister of Economy Abdulla bin Touq al Marri officialized the agreement, which is expected, according to estimates of the Israeli Ministry of the Economy, to considerably increase the already impressive trade between the two nations in goods and services. 

Ohad Cohen, director of the Foreign Trade Administration at the Israeli Ministry of the Economy, told Al-Monitor that the agreement is expected to triple the scope of trade between the countries to $3 billion within three years. 

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