Landmark Israel, UAE trade deal axes nearly all tariffs
UAE predicts the Comprehensive Economic Partnership Agreement will boost bilateral trade to more than $10 billion a year within five years.
UAE predicts the Comprehensive Economic Partnership Agreement will boost bilateral trade to more than $10 billion a year within five years.
"We are working on this with the Americans, with some of our friends in the Gulf countries, in many different echelons. Egypt is of course a significant player," says Foreign Minister Yair Lapid.
This sensitive question occupies many Jews in the Persian Gulf. Jews from Kuwait say, "The Kuwaiti public isn’t anti-Israel, it has no problem with Jews." In contrast, others in the Gulf estimate that "in Qatar, Dubai’s rival, there is potential that they will sign agreements with Israel."
Some 65 deals have so far been inked between the Jewish state and the Gulf kingdom, which are also exploring a free trade agreement.
Secret meetings have been taking place between Israeli and Saudi officials for decades, with the US now working to bring about a transformation in the relationship
Officials in Jerusalem and Riyadh are in direct contact, according to a senior Israeli diplomatic official. Dozens of Israeli businesspeople have entered the kingdom on Israeli passports of late to sign million-dollar deals.
Tiran and Sanafir islands could be transferred to Saudi sovereignty if negotiations succeed, paving the way to Saudi normalization steps.
In another sign of warming ties between the Jewish state and the North African country, 13 memorandums of understanding are signed at the Connect to Innovate forum in Casablanca.
Small steps could lead to big things as part of genuinely striving for peace in the Middle East. "It’s already clear that other countries are in contact with Israel in an attempt to break new ground," Israeli historian says.
CEO of Jerusalem-based religious Zionist group says Saudis are "very fascinated by what is happening in Israel, and they are waiting for us to move forward." The bottom line, he says, is that "Iran is everyone's common issue."
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