#Israel expects $500m in deals with Bahrain and #UAE | Financial Times

Israel expects $500m in deals with Bahrain and UAE | Financial Times:

Israel expects to seal deals worth about $500m after Tuesday’s historic agreements to normalise ties with the UAE and Bahrain come into force.

Ofir Akunis, Israel’s minister of regional co-operation, said the accords would expand into bilateral trade and investments reaching “billions of dollars for each side”.

The Jewish state will offer its expertise in water desalination and agricultural technology as the most promising sectors for co-operation with its new business partners in the Gulf.

The initial roster of investments, from technology and tourism to culture and transportation, would likely come into effect after parliamentary ratification of the accords, which is expected after the end of the Jewish holiday period in mid-October.

“The main idea here is peace to prosperity,” Mr Akunis told the Financial Times. “We want bilateral economic relationships with the UAE and Bahrain to build a new Middle East.”