Israel sees trade with UAE at $4 billion a year

Intelligence Minister Eli Cohen tells Reshet Bet radio the figure could be achieved within 3 to 5 years, while Cohen's spokesperson adds it would also include defense trade
Annual trade between Israel and the United Arab Emirates is expected to reach $4 billion, an Israeli minister said on Monday.
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  • Israel and the UAE announced in August they would normalize diplomatic relations in a deal brokered by Washington.
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    מטוס אל על עוזב את אבו דאבי
    מטוס אל על עוזב את אבו דאבי
    Emirati officials wave as the Israeli delegation leaves the UAE
    (PHoto: Ofir Malka)
    The UAE has since announced it was scrapping an economic boycott on Israel and officials from the two countries have said they were looking at cooperation in defense, energy, medicine, tourism, technology and financial investment.
    A number of Israeli and Emirati businesses have signed deals since the normalization accord was announced.
    "Within three to five years trade between Israel and the United Arab Emirates will reach $4 billion," Intelligence Minister Eli Cohen told Reshet Bet radio station.
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    אלי כהן
    אלי כהן
    Intelligence Minister Eli Cohen
    (Photo: Ofir Aybi )
    A spokesman for Cohen, Israel's former economy minister, said the figure was annual and included defense trade.
    Israeli carrier Israir said on Sunday it had reserved slots for commercial flights from Tel Aviv to the UAE, preparing for potential tourism.
    The heads of Israel's two biggest banks will travel to the UAE this month, the first such visits since the countries agreed to normalize relations.
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