(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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