Monday 3 April 2023

Analysis: #UAE plans long-term economic ties with Israel despite political strains | Reuters

Analysis: UAE plans long-term economic ties with Israel despite political strains | Reuters

Israeli President Isaac Herzog meets with Abu Dhabi's Crown Prince Sheikh Mohammed bin Zayed al-Nahyan
in Abu Dhabi, United Arab Emirates January 30, 2022. Mohamed Al Hammadi/Ministry of Presidential Affairs/WAM/Handout via REUTERS

The United Arab Emirates' commitment to a long-term strategic relationship with Israel should survive political turbulence, analysts say, after one of the most right-wing governing coalitions in Israel's history prompted widespread anger. A series of recent moves and comments by Prime Minister Benjamin Netanyahu's government has infuriated the public in much of Arab world, and drew condemnation from the UAE, including over Israeli settlement policy in the occupied West Bank.

However, economic and trade cooperation - a key driver of the UAE's 2020 normalisation of relations with Israel which broke with decades of Arab policy towards the Palestinian cause - has deepened.

On Saturday a Comprehensive Economic Partnership Agreement (CEPA) between the countries entered into effect, removing or reducing tariffs on more than 96% of products, UAE state news agency WAM said.

Signed in May 2022, and deemed a "historic moment" by the UAE ambassador to Israel, it is Israel's first free trade agreement with an Arab state.


No comments:

Post a Comment