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Israel, United Arab Emirates to sign free trade deal on Tuesday- Israel econ ministry

Israel, United Arab Emirates to sign free trade deal on Tuesday- Israel econ ministry
© Reuters. FILE PHOTO: Flags of United Arab Emirates and Israel flutter during Israel’s National Day ceremony at Expo 2020 Dubai, in Dubai, United Arab Emirates, January 31, 2022. REUTERS/Christopher Pike/File Photo

JERUSALEM (Reuters) – Israel and the United Arab Emirates (UAE) will sign a free trade agreement in Dubai on Tuesday in a move aimed at boosting trade between the two countries, Israel’s Economy Ministry said on Monday.

The ministry said customs duties will be eliminated on 96% of products, including food, agriculture, cosmetics, medical equipment and medicine, and includes regulation, customs, services and government procurement.

The UAE and Israel formally established relations in 2020 as part of the U.S.-brokered Abraham Accords that also included Bahrain and Morocco. The trade deal is Israel’s first with an Arab country.

Source: Investing.com

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