Israel, UAE launch free trade agreement talks as bilateral trade rises

Official says deal set include trade in goods and services, regulation, government procurement, e-commerce and intellectual property rights; Israel's ambassador to UAE Amir Hayek officially presents his credentials to Dubai ruler

Reuters, TPS|
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Israel and the United Arab Emirates launched talks to establish a free trade agreement between the two countries, the Economy Ministry said on Tuesday.
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    • Economy Minister Orna Barbivai on Monday held a virtual meeting with her Emirati counterpart, Abdulla Bin Touq Al Marri, to kick off the negotiations. Other senior Israeli officials on the negotiating team are now in Dubai until Thursday for more talks, the ministry said.
    2 View gallery
    Containers carrying goods from the United Arab Emirates, which entered Israel on an MSC cargo ship, are unloaded with a cargo crane bearing Israeli and Emirati flags at Haifa's port, northern Israel     Containers carrying goods from the United Arab Emirates, which entered Israel on an MSC cargo ship, are unloaded with a cargo crane bearing Israeli and Emirati flags at Haifa's port, northern Israel
    Containers carrying goods from the United Arab Emirates, which entered Israel on an MSC cargo ship, are unloaded with a cargo crane bearing Israeli and Emirati flags at Haifa's port, northern Israel
    (Photo: Reuters)
    Israel and the UAE normalized relations last year and bilateral trade in goods alone reached nearly $500 million so far in 2021 - up from $125 million in 2020 - and is expected to continue growing rapidly.
    "This agreement will significantly strengthen trade between the two countries, remove barriers and expand economic cooperation," Barbivai told Bin Touq Al Marri, according to her ministry.
    Ohad Cohen, director of Israel's Foreign Trade Administration and head of Israel's negotiating team, said he intended to reach a deal with the UAE on issues relating to trade in goods and services, regulation, government procurement, e-commerce and the preservation of intellectual property rights.
    2 View gallery
    Israel's ambassador to the UAE Amir Hayek presented his credentials to the Vice President of the Emirates, the Prime Minister of the Emirates and the ruler of Dubai, Sheikh Muhammad bin Rashid al-Maktum     Israel's ambassador to the UAE Amir Hayek presented his credentials to the Vice President of the Emirates, the Prime Minister of the Emirates and the ruler of Dubai, Sheikh Muhammad bin Rashid al-Maktum
    Israel's ambassador to the UAE Amir Hayek presenting his credentials to ruler of Dubai Sheikh Muhammad bin Rashid al-Maktum
    (Photo: TPS)
    On Monday, Israel's ambassador to the UAE Amir Hayek presented his credentials to the vice president of the Emirates, the prime minister of the Emirates and the ruler of Dubai, Sheikh Muhammad bin Rashid al-Maktum.
    "This is another milestone in relations between Israel and the United Arab Emirates, and the region in general," said Foreign Minister Yair Lapid. "The economic, technological and political horizon that we are drawing together is important not only for the two countries but also for the entire region and our other international partners."
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