UAE, Israel Bilateral Trade Racks Up $675 Million

Published October 18th, 2021 - 01:00 GMT
UAE, Israel Bilateral Trade Racks Up $675 Million
Since the signing, both countries have inked six major deals in areas of technology, tourism, health, energy, environment and many will be announced soon. (Shutterstock)
Highlights
Before the visa waiver was set to go into effect, Israeli citizens needed to obtain a UAE visa in order to travel to Israel, as will UAE citizens traveling to Israel.

Israel and UAE bilateral non-oil trade has reached over $675.2 million within a year of signing the historic peace treaty dubbed Abraham Accords, Dr Thani Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade told the UAE-Israel forum in Abu Dhabi.

Israel and UAE

“Since the signing of the Abraham Accords, a number of agreements have been signed in areas such as Artificial Intelligence (AI), cyber security, food, water security, energy and others,” he said.

Since the signing, both countries have inked six major deals in areas of technology, tourism, health, energy, environment and many will be announced soon.

Lately, The Minister of Foreign Affairs and International Cooperation, Sheikh Abdullah bin Zayed Al Nahyan, has announced that the UAE has agreed with Israel on establishing two new working groups that focus on collaboration on water and energy issues.

Israel

Also, Last week, both countries announced the resume of the visa waiver for citizens starting from October 10.

The visa-free travel between the Gulf country and the occupation was agreed upon as a part of a mutual visa waiver deal reached after the normalization agreement that sought to further cements the growing ties between the two countries last year but, however, the visa was suspended later.

Before the visa waiver was set to go into effect, Israeli citizens needed to obtain a UAE visa in order to travel to the occupied lands, as will UAE citizens traveling to Israel.


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