Israel, United Arab Emirates to sign free trade deal on Tuesday- Israel econ ministry -Breaking
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© Reuters. FILE PHOTO – Flags from Israel and the United Arab Emirates fly during Israel’s National Day Ceremony at Expo 2020 Dubai in Dubai (United Arab Emirates), January 31, 2022. REUTERS/Christopher Pike/File photoJERUSALEM, (Reuters) – Israel and United Arab Emirates will sign a free-trade agreement in Dubai Tuesday. This move is aimed at increasing trade between both countries.
According to the ministry, 96% of all products will have their customs duties eliminated, which includes food, medicine and cosmetics. This also covers regulation, customs and services as well as government procurement.
In 2020, Israel and the UAE established diplomatic relations as part of U.S.-brokered Abraham Accords. This agreement also covered Morocco and Bahrain. It is Israel’s first deal with an Arab country.
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