ISRAEL Israel and UAE agree on ‘milestone’ free trade deal | MINORITY REPORT

ISRAEL

Israel and UAE agree on ‘milestone’ free trade deal

Abu Dhabi and Tel Aviv agree free trade agreement that will see 95 percent of customs tariffs dropped.

The talks concluded Friday after four rounds of negotiations, including last month in Egypt between Israeli Prime Minister Naftali Bennett and the UAE's de facto leader, Abu Dhabi Crown Prince Mohammed bin Zayed Al-Nahyan

Israel and the United Arab Emirates have concluded negotiations for a free trade agreement, Israel’s Ministry of Economy and Industry and the UAE foreign trade minister said.

The UAE and Israel have between $600m and $700m in bilateral trade, UAE’s economy minister Abdulla Bin Touq Al Marri said in September.

The UAE and Israel formally established relations in 2020 as part of the US-brokered Abraham Accords that also included Bahrain and Morocco.