Israel and United Arab Emirates start free trade talks

Israel’s economy minister said on Tuesday that Israel and the UAE have started talks to reach a free trade agreement between them.

Minister Orna Barbivai held a remote meeting with his Emirati counterpart Abdullah bin Touq Al Marri to start negotiations. The minister added that Israeli officials on the negotiating team are currently senior in visit to Dubai, which will continue until Thursday for further talks.

The UAE normalized relations with Israel last year and trade between the two countries has increased in Significantly, commodity trade alone has been around $ 500 million since the start of 2021, up from $ 125 million for all of 2020, and is projected to continue to grow. increase.

“This agreement will greatly improve trade between the two countries, remove barriers and expand economic cooperation,” Barbivai told Al-Marri, according to the Israeli Ministry of Economy.

The director of the ministry’s foreign trade department and head of the Israeli negotiating team, Ohad Cohen, said he wanted to reach an agreement with the UAE on issues related to trade in goods and services, regulatory procedures, public procurement, e-commerce and protection of intellectual property rights.

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