UAE’s Minister of Foreign Affairs and International Cooperation Sheikh Abdullah bin Zayed Al Nahyan and his Israeli counterpart, Yair Lapid, signed on Wednesday an agreement on economic and trade cooperation.
Sheikh Abdullah and Lapid met in Abu Dhabi and agreed on several areas of cooperation, a joint statement said.
The signed agreement "reflects the two governments' commitment to the development of economic relations and the free flow of commodities and services, as well as cooperation in the fields of exhibitions, the exchange of expertise and knowledge, the exchange of delegations, cooperation between chambers of commerce, the promotion of joint research and development, and agro technologies."
The parties agreed on establishing a joint economic committee tasked with implementing the agreement to remove barriers and increase bilateral trade, said the statement.
Sheikh Abdullah and Lapid also looked forward to signing a free trade agreement, saying they have started discussions on this matter.
"Both ministers discussed ways to further explore means to increase investments in each other's economies, infrastructure, and science and technologies, thereby bringing together the ingenuity and spirit of innovation and vision of both countries’ peoples and leaderships," the statement added.
