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Home Economy Business & Finance

Israelis, Emiratis meet in Dubai to discuss investments

Those attending the Global Investment Forum in Dubai aim to make the most of deepening ties nine months after the two countries agreed to formalize relations.

by  AP and ILH Staff
Published on  06-03-2021 09:48
Last modified: 06-03-2021 09:48
Israelis, Emiratis meet in Dubai to discuss investmentsAP/Kamran Jebreili

Israeli Ambassador to the UAE Eitan Na'eh talks with an Emirati official during the Global Investment Forum in Dubai, June 2, 2021 | Photo: AP/Kamran Jebreili

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At the luxurious Armani hotel inside the world's tallest skyscraper in Dubai, Israelis in kippas and Emiratis in long white robes and kanduras gathered Wednesday to discuss investment opportunities. Those attending the Global Investment Forum in Dubai aimed to make the most of deepening ties nine months after the two countries agreed to formalize relations.

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There was extremely little mention of the Palestinians or the fact that barely two weeks ago, Israel was a country still at war.

Rather, the conversations were laser-focused on business. Several Israeli and Emirati speakers opened their remarks with both the Hebrew greeting of "Shalom" and the Arabic greeting of "Salam." They spoke about boosting tourism, creating jobs, technology sharing, diversifying economies and tackling issues of water scarcity.

Since the UAE and Israel formalized ties in September, tens of thousands of Israeli tourists have come to the UAE – mostly to Dubai or in targeted visits to the capital of Abu Dhabi.

Trade between the two countries has already exceeded $354 million. The two countries have signed around 25 agreements in more than 15 sectors, said Minister of State for Foreign Trade, Thani bin Ahmed Al-Zayoudi, the highest-level Emirati official at the event.

There has been no indication the 11-day war in Gaza, which ended with an inconclusive ceasefire on May 21, has slowed down budding Emirati-Israeli ties.

In the lavish and tightly secured Armani ballroom at the Burj Khalifa tower, there was no visible worry or concern on the faces of eager and excited Israeli delegates and speakers, many of whom expressed their astonishment at how rapidly ties have flourished with the United Arab Emirates.

"It's happening and it didn't happen before. If you would have spoken to me a year ago, I wouldn't have guessed that [we] will speak here today in Dubai about all of these things that are happening," said Israeli Ambassador Eitan Na'eh, who is based in Abu Dhabi.

Na'eh spoke to the media on the sidelines of the summit, which was billed as the first face-to-face investment conference in the UAE between Israelis and Emiratis since the US-brokered diplomatic pact was signed in September.

The director-general of the Abu Dhabi Investment Office, Tariq Bin Hendi, told the audience his country has "helped Israeli companies set up in the UAE." The office is responsible for attracting foreign investment into Abu Dhabi and diversifying the private sector.

"We want the people of Israel, the people of the world to come and join us, help us on that journey, work with us, learn from us, allow us to learn from you, and ultimately build a strong relationship," he said.

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