On Sunday, Israel’s Foreign Ministry reported that Israel and the United Arab Emirates have signed a free trade agreement that will remove or reduce tariffs on approximately 96% of goods traded between the two nations.
This pact was first reached in May of last year and was aimed at increasing bilateral trade following the normalization of ties between the two countries in 2020, which was facilitated by the US.
As part of the agreement, Israeli companies will also be able to participate in government tenders in the UAE.
Israeli Foreign Minister Eli Cohen, who signed the final agreement, stated that this deal will strengthen the relationship between Israel and the UAE and that Israel is working towards normalizing relations with other Arab nations as well.
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