Israel and the United Arab Emirates are negotiating a free-trade deal that would lower tariffs and bring other economic benefits to the two countries, boosting commerce and enhancing collaboration. It’s just another evidence of how quickly the Abraham Accords have resulted in stronger connections.
“Our ambassador was actually addressing the crowd, as well as the UAE minister of trade, saying, ‘We have to work on the free-trade agreement, and we have to do it quickly,’” Dan Catarivas, director general of foreign trade and international relations at the Manufacturing Association of Israel, told JNS. “So he did, in fact, reveal—he did leak—that there are various conversations on both sides about establishing an FTA between Israel and the UAE,” Catarivas said, adding that the FTA’s biggest value will be in its symbolism, noting that the UAE’s customs rates are quite modest to begin with, fixed at 5%. “An FTA demonstrates that the countries have strong relations and that everything is working out for the best,” he remarked.