Israel and the United Arab Emirates (UAE) will sign a free trade agreement in Dubai on Tuesday aimed at boosting bilateral trade, the Israeli Economy Ministry announced on Monday, according to Reuters.
The ministry said customs duties would be lifted on 96% of products, including food, agricultural products, cosmetics, medical equipment and medicines, while the two countries would coordinate in various areas such as the regulatory framework, customs and services.
The UAE and Israel formally established normal diplomatic relations in 2020, within the framework of the Abrahamic Agreements, mediated by the USA, which also included Bahrain and Morocco.
The free trade agreement is the first of the Jewish state with an Arab country.
Source: Capital
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