The United Arab Emirates and Israel launched talks aimed at reaching a comprehensive economic partnership agreement to deepen economic and investment ties under the umbrella of the Abraham Accords for peace.
The announcement was made via video conference held on Tuesday between UAE Minister of Economy Abdullah bin Touq and his Israeli counterpart Orna Barbivai, in the presence of UAE Minister of State for Foreign Trade Dr. Thani bin Ahmed al-Zeyoudi and UAE Ambassador to Israel Mohammed al-Khaja.
Once concluding the agreement after holding successful talks, both sides seek to bolster their economic ties, promote trade exchange to higher levels, create a wealth of new investment opportunities for local and regional companies and establish a new phase of joint cooperation to achieve peace, prosperity and regional stability, WAM reported.
Touq explained that the UAE continues to develop its economic model to make it more sustainable, flexible and open to global markets, under a clear vision and in line with the principles and objectives of its 50-year development strategy.
Over a year has passed since signing the peace accords with Israel, which reflected both sides’ keenness to achieve peace, stability and prosperity in the Middle East region.
New diplomatic ties have been established during this period to help boost their economic partnership and promote trade, investment, tourism and scientific and technological cooperation on bilateral and regional levels.
He added that the agreement created vast economic opportunities and brought many benefits at the regional level, pushing forward the economic and social development process locally and regionally.
“Launching these official talks contribute to promoting future cooperation and discussions to reach an agreement on creating a comprehensive economic partnership,” Barbivai said, hoping the agreement would serve the bilateral business communities and create a wide range of opportunities in various economic sectors.
“We look forward through this agreement to further benefit from the great potential of bilateral and friendship ties,” she added.
