UAE is eyeing to boost economic ties with Israel to more than $1 trillion over the next 10 years, Economy Minister Abdulla Bin Touq told Bloomberg.
Year After UAE, Israel Peace Treaty
Just one year after UAE and Bahrain inked the so-called Abraham Accords with Israel, Israeli investments and business relations are growing in all sectors signing more than 60 MoUs worth billions of dollars.
Most of the agreements signed focused on digitalization, renewable energy, tourism, cybersecurity, health services, and environment-related technologies and now seeking to deepen its trade ties more in security, energy, and food security.
The current bilateral trade deals landed more than $600 million to $700 million dollars, with Mubadala Investment Co.’s $1 billion purchase of Tel Aviv-listed Delek’s stake in an Israeli gas field being the biggest deal, Bin Touq commented.
Recently, The UAE has inked a cooperation agreement with Digital health innovation 2048 (DHI 2048) to adopt digital health and innovative solutions from Israel.
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