The United Arab Emirates and Israel ratified the Comprehensive Economic Partnership Agreement.
Emirati Minister of State for Foreign Trade, Sani Al-Zayoudi, says that two billion dollars of trade has been done between Israel and the Emirates this year, and the free trade agreement between the two countries will increase this progress.
Emirati Minister Sani Al-Zayoudi said in a statement on social media that this year's trade between Israel and the Emirates is 114% more than last year, and this progress will increase with the free trade agreement.
Another major step in our foreign trade agenda: The UAE-Israel Comprehensive Partnership Agreement has now been ratified by both governments. This deal will eliminate or reduce tariffs on 96% of products, providing a major boost to our industrial and service sectors. 🇦🇪🇮🇱 pic.twitter.com/PLCjZNBN7m
— د. ثاني الزيودي (@ThaniAlZeyoudi) December 11, 2022
Israel and the UAE are creating opportunities in the fields of advanced technology, renewable energy, and food.
It should be noted that the UAE-Israel Free Trade Agreement was signed in May this year, under the agreement, taxes on 96% of commercial goods will be reduced or eliminated.
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