Israel and the United Arab Emirates signed the first Arab free trade deal.

• The agreement was signed in Dubai by Orna Barbivay and Abdalla Bin Touq Al Marri.

KEY POINTS:

• Regulatory and standardisation concerns, customs, collaboration, government procurement, e-commerce, and intellectual property rights are all covered under the agreement.
• This is a crucial visit for the State of Israel’s commercial relations with the United Arab Emirates, the first free trade zone deal with an Arab country.
• The free trade zone agreement they signed this morning is expected to improve bilateral commerce, remove barriers, and create new economic possibilities and collaborations, all of which will serve as a foundation for our common road forward.
• The commercial pact with Israel will usher in a new era in the Middle East. This agreement will boost economic growth and reinforce the notion that working together is the only way to build long-term, sustainable economies in a complicated environment.