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A free trade agreement between Israel and the United Arab Emirates?

At the opening of the Beyond Business conference held in Abu Dhabi, the Israeli Ambassador, Amir Haik, surprised when he revealed that a free trade agreement would soon be signed between the two countries.

The conference, initiated by Bank Hapoalim and the Export Institute, marks a year since the Avraham agreement, which has already generated about $ 1 billion in joint transactions.

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• Abu Dhabi

• United Arab Emirates

• Bank Hapoalim

• Export Institute

• Tamir Greenberg

• Dov Kotler

Sonia Gorodisky

Monday, 18 October 2021, 07:47 Updated: 08:11

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A free trade agreement may be signed between Israel and the United Arab Emirates,

, revealed today at a

conference beyond the business of Bank Hapoalim and the Export Institute.

A free trade agreement allows both countries to trade with each other without tariffs, thus often increasing the volume of trade in a two-way way. Addressing the UAE's Minister of Commerce, Mr Thani Ahmad al - Ziudi, Haik said: "I take it upon myself 'Honorable Minister and I am sure you too will do your best and we will finalize the FTA (future trade agreement) the trade agreement as soon as possible" .

Haik added: "I am very proud to be honored to be the first Israeli ambassador to the United Arab Emirates. The peace agreement is a significant milestone for both countries. And for the whole region. Our goal is to expand the peace agreement to deep partnerships and friendships.

Earlier, Reuven Krupik, Chairman of Bank Hapoalim, Dov Kotler, CEO of the Bank and Adiv Baruch, Chairman of the Export Institute, launched the Israel-Abu Dhabi Business Forum at the Haritz Carlton Hotel in Abu Dhabi, United Arab Emirates. UAE, the Ministry of tourism of the UAE Chamber of Commerce and the Ministry of the United Arab Emirates Abu Dhabi investment ADIO.

forum was attended by Minister of trade of the United Arab Emirates, Ahmed Thani al Zyud, chairman of the Chamber of Commerce of the United Arab Emirates, Abdullah al region and Chairman Abu Dhabi Investment Office Muhammad Ali al-Shurfah.

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Right: Dov Kotler, CEO of Bank Hapoalim, Adiv Baruch, Chairman of the Export Institute, Muhammad Ali al-Shurfa, Chairman of the Abu Dhabi Investment Office ADIO, Thani Ahmad al-Ziudi, UAE Trade Minister Amir Haik, Ambassador Israel in the UAE, Abdullah al-Mazuri, Chairman of the UAE Chamber of Commerce and Reuven Krupik, Chairman of Bank Hapoalim. (Photo: Sivan Farage)

$ 1 billion deals in the first year

The Israel-Abu Dhabi Business Forum included one-on-one meetings of senior Israeli and UAE officials in which they concluded a year for the signing of the Abrahamic Agreements between Israel and the UAE and presented the opportunities and challenges in business partnerships as well as key success stories. The forum also included a performance by Tamir Greenberg winning next star winner Valerie Butter who came in second in the final who performed their moving duet from the show to the song "Hallelujah".

Among the Israeli businessmen who participated in the forum:

.

"Abraham's agreements have led to the signing of many cooperation agreements between Israeli and emirate companies in hundreds of millions of dollars and in a variety of fields. The Dubai Expo is also a great opportunity for Israeli and local businessmen to produce business collaborations."

: "Today, a year after the signing of the Abrahamic Agreements and thanks to them we have become partners. We are pouring into concrete the cooperation between Israel and the United Arab Emirates, and it is amazing that only after a year, billions of dollars have been recorded between the two countries. Without economic prosperity the hope of stabilizing the region will remain a mere hope and dream.

We strive to strengthen economic ties with Israel for years to come and we are committed to promoting cooperation between investors and entrepreneurs. I am optimistic about future growth for Israeli companies that will choose to invest here in Abu Dhabi and I am proud to be part of this summit that represents the best entrepreneurs in the world. "

: "The business delegation that will leave for the United Arab Emirates a year after the Abrahamic Agreements, is another stage that joins the joint activity between the countries.

Since the agreement, a new window has opened and it is the economy that is changing the face of the region and constitutes a diplomatic infrastructure for tightening ties. The Export Institute is happy to lead, together with the Director of Foreign Trade at the Ministry of Economy, a wide range of business opportunities for Israeli industry, including delegations and other events that will take place throughout the year to the Israeli Foreign Ministry Pavilion at EXPO Dubai. I call on Israeli companies to take part in the many events that undoubtedly constitute an extraordinary opportunity for Israeli industry. "

"The Bank is pleased to continue to be a pioneer in new markets for the benefit of its customers. Bank Hapoalim has adopted a strategy of transport to the Gulf states, and the current delegation will be a groundbreaking delegation in establishing ties with Abu Dhabi - one of the world's leading financial, trade and high-tech centers.

"Along with all the activities in front of local businessmen, all participants in the delegation will be invited to reveal their work at the International Expo Dubai, which is one of the most important international exhibitions in the world that will allow Israeli businessmen to make connections on this important platform."

Yossi Cohen, former head of the Mossad, at the Abu Dhabi Business Forum (Photo: Sivan Farage)

The author was a guest of the Israeli delegation, BEYOND BUSINESS

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