Benzi Robin, Matti Bernhart, Knitted News01.04.22 13:13 29 Adar B. Tishpev
Credit Gideon Sharon
Israel and the United Arab Emirates have completed negotiations for a free trade agreement between the two countries.
The issue was discussed at a meeting between Prime Minister Naftali Bennett and the heir apparent, Sheikh Muhammad bin Zayed, in Abu Dhabi last December, where it was agreed to speed up the signing talks, as well as at a meeting in Egypt last week.
Credit Gideon Sharon
This is a comprehensive and meaningful agreement, which includes issues related to trade in goods, including regulation and regulation, customs, trade in services, cooperation, government procurement, e-commerce and protection of intellectual property rights. 95% of products traded between countries are included in the agreement. Or gradual: food products, agriculture, cosmetics, medical equipment, medicines and more.
The agreement is expected to enter into force after the signing of Minister Barbibai and its emirate equivalent and a ratification process in both countries.
“This is an important moment in the relationship between the State of Israel and the Emirates,” said Prime Minister Naftali Bennett. “The good relations that have already been established between the countries are being strengthened today in the form of a free trade agreement, which will significantly upgrade economic cooperation for the well-being of the citizens of the two countries: more trade, more jobs, good products at lower prices.”
Orna Barbibai: “Since the establishment of the Avraham Agreements, the Ministry of Economy and Industry has been working to expand economic relations between Israel and the United Arab Emirates and to realize its economic potential. The Free Trade Agreement, the Ministry’s Economic Annexes and the additional assistance tools that the Ministry provides to them “
Now, at the end of the negotiations, the agreement will be subject to legal editing, and will then be signed by the ministers and undergo a process of ratification in each of the countries. At the end, the agreement will enter into force, The great economic nature of the ties between Israel and the United Arab Emirates.
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