Abu Dhabi skyline. The UAE and Israel have officially launched talks to reach a comprehensive economic partnership agreement to deepen economic and investment ties.
Image Credit: Gulf News Archive

Abu Dhabi: The United Arab Emirates and Israel have officially launched talks to conclude a Comprehensive Economic Partnership Agreement to deepen economic and investment relations between the two countries under the Abraham Accord.

“We continue to work on the implementation of the 50 projects launched by the government of the UAE, including the Comprehensive Economic Partnership Program with Eight Global Markets, as part of the UAE’s ambitious strategy to build a future economy with more competitive components, in line with the goals of the United Arab Emirates centenary 2071 ”, said Abdullah bin Touq Al Marri, Minister of Economy.

The partnership agreement between the two countries, when concluded after the successful completion of the talks, aims to strengthen economic relations, promote trade to higher levels, create a multitude of new investment opportunities for enterprises of the two countries and the region, and to establish a new phase of joint cooperation to achieve regional peace, prosperity and stability.

“More than a year has passed since the conclusion of the Abrahamic Accord between the United Arab Emirates and Israel, as an expression of their common desire to promote peace, stability and prosperity in the Middle East. East. Undeniably, the agreement has created enormous economic opportunities and achieved many benefits at the regional level, which would advance the process of economic and social development in both countries and also at the regional level, ”Al Marri said.

The economic partnership agreement aims to build on the development achieved in the economic relations between the two countries during the last period, the value of bilateral trade amounting to more than 3.5 billion dirhams in one year. since the signing of the Abrahamic peace agreement in September 2020. until the end of September 2021. Non-oil foreign trade between them also reached 2.9 billion dirhams in the first nine months of this year.