Israel, UAE Sign Free Trade Pact Into Effect

(MENAFN- Trend News Agency) Israel and the United Arab Emirates on Sunday signed a free trade pact into effect, reducing or removing tariffs on about 96 percent of goods traded between the nations, Israel's Foreign Ministry said, trend reports citing al arabiya .

The countries first reached the agreement last May, promising to boost bilateral trade after they normalized ties in 2020 in a US-brokered deal.

The deal will also allow Israeli companies to gain access to government tenders in the UAE, the ministry said.

Israeli Foreign Minister Eli Cohen, who on Sunday gave a final signature for the tariff arrangement within the trade pact, said it would“strengthen the connection” with the UAE and that Israel was working to normalize ties with more Arab countries.


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