Israel Aims to Conclude Regional Free Trade Agreement with Arab Countries
The Jewish newspaper The Jerusalem Post reported that Israel is looking forward to concluding a regional free trade agreement with Arab countries following its participation in an economic conference in Bahrain as part of the “N7” initiative.
Regional Trade Agreements with Arab Countries
“Israel has certainly entered into several bilateral trade agreements with countries in the region, but there are no regional trade agreements that include Israel,” said William Wexler, senior director of the N7 project.
He added: “(N7) is an initiative that pushes for a loose regional agreement between Israel and its Arab neighbors, starting with a trilateral agreement with the United Arab Emirates and Bahrain.”
The N7 Project and Economic Cooperation
The “N7” project aims at expanding economic and trade cooperation between the countries of the Middle East. The project aims to organize high-level conferences between Israel and the Arab countries, in order to speed up the path of joint cooperation.
Normalization of Relations
In 2020, four Arab countries, the UAE, Bahrain, Sudan, and Morocco, signed agreements to normalize relations with Israel.
Source: Jerusalem Post.