DUBAI (Reuters) – Israel has signed its first major trade agreement with an Arab country: a free trade pact with the United Arab Emirates was signed in Dubai on Tuesday.
Among other things, according to Israeli information, tariffs on food, agricultural products, cosmetic products, medical equipment and medicines will be eliminated. Rules for importing and handling intellectual property have also been tightened. This should primarily encourage Israeli companies to settle in the United Arab Emirates.
Months of negotiations preceded the agreement. The two states officially established bilateral relations in September 2020, mediated by the United States. This broke with decades of Arab policy, according to which relations with Israel should only be established when the Palestinians get their own state.