Jerusalem: Cooperation between Israel and the United Arab Emirates (UAE) is scaling new heights. While a year and a half has been completed for signing the Abraham agreement, both the countries have signed a free trade agreement. Israel said that this was a historic event in the cooperation between Israel and UAE. Two days ago, Iran had warned the Arab countries to sever all ties with Israel. This free trade agreement signed between Israel and UAE becomes a warning for Iran.
In 2020, then US President Donald Trump mediated the Abraham agreement between Israel and UAE. After that, both the countries established bilateral trade relations. In 2021, the bilateral trade between Israel and UAE reached $900 million. Middle East media have claimed that this is the first and a massive leap in the trade cooperation between the two countries.
As the next stage of this cooperation, the leaders of Israel and UAE have been discussing free trade agreement for the last five months. Three meetings had been held between the leaders for the terms of the free trade agreement. On Tuesday, the fourth and final discussions were held between Israeli Finance Minister Orna Barbivai and UAE Trade Minister Thani bin Ahmed Al Zeyoudi. After that, the free trade agreement between the two countries was signed on Friday.
Barbivai said that the free trade agreement between Israel and UAE is a historic development. Barbivai expressed confidence that cooperation between the industry groups from both countries will increase with this agreement. More than 95% of the items traded between Israel and UAE had been exempted from customs duties last year. Therefore, it is being claimed that trade between the two countries will become easier in the coming times.
In the end of last month, Israeli Prime Minister and UAE Crown Prince Mohammed Bin Zayed Al Nahyan had held discussions. Talk in the Middle East media is that the free trade agreement gained momentum after this talk. Reports are being received that the increasing cooperation between Israel and the Arab counties adds to the Iranian restlessness.
Two days ago, Major General Salami, the Iranian Revolutionary Guards (IRGC) chief, threatened the Arab countries to establish relations with Israel. The IRGC chief had appealed that all the Arab countries should sever their ties with Israel. Iran had warned that the consequences of cooperation with Israel would not be good. Therefore, a reaction is expected from Iran over this new development.
Related posts:
Conflict will flare up for Golan Hills, if countries don’t unite against Iran, claims UAE official
Israel can launch an attack on Iran with help from Saudi Arabia and other Arab countries, warns Israeli Foreign Minister
Israel and UAE sign historic peace agreement
Saudi prince issues a harsh statement criticizing Palestinian leaders
Cyberattacks in UAE rise after establishing ties with Israel, claims UAE cybersecurity head
Missile attack on Israeli freight ship near UAE coast, claims Gulf media
Dissatisfied with the Biden administration, leaders of Israel, Egypt, and UAE hold a joint meeting, reports Israeli daily
