ABU DHABI, December 13, 2021 (WAM) – The Abrahamic Accord Peace Agreement between the United Arab Emirates and the State of Israel was a vital step towards achieving peace, strengthening security and promoting stability in the region.

One year after the signing of the Agreement in September 2020, bilateral relations between the two countries have experienced remarkable development in various fields and sectors. The value of intra-UAE trade with Israel was over AED 3.5 billion until the end of September 2021, and the value of non-oil foreign trade between the two countries exceeded AED 2.9 billion. in the first nine months of this year. .

Last March, the United Arab Emirates established a $ 10 billion fund to invest in strategic sectors in Israel, including energy, manufacturing, water, space, healthcare, agricultural technology. , among others.

The creation of the fund is part of the commitment of the two countries to develop economic relations and the free movement of goods and services, as well as cooperation in the fields of holding exhibitions, exchanging experiences and knowledge. , delegation visits. It also covers cooperation between chambers of commerce, the development of agricultural technologies and the promotion of joint research and development.

Based on the vision of the Abrahamic Accord Peace Accord and the belief in the common goal of achieving the well-being of the peoples of the two countries and the peoples of the region, the two countries formed a joint economic committee headed by the ministries of the economy. of the two countries to remove barriers and stimulate bilateral trade.

Mutual talks were held to reach a Comprehensive Economic Partnership Agreement to deepen economic and investment relations between the two sides within the framework of the Abrahamic Accords.

The launch of Comprehensive Economic Partnership Agreement talks between the UAE and Israel is part of “50 projects” to broaden the horizons of UAE’s economic partnerships with eight influential global markets, in the part of the country’s ambitious strategy for the next fifty years.

Bilateral cooperation has seen remarkable developments after the signing of the agreement, particularly in the fields of energy, environment, space, advanced technologies, education, research as well as other areas of mutual interest.

More than 60 strategic cooperation agreements have been signed between the two countries, and discussions have taken place to further develop cooperation in the fields of aviation, logistics, renewable energies, food safety, desalination of water, artificial intelligence and other fields.

The UAE’s relations with countries around the world are based on the “Principles of the 50”, initiated under the guidance of the wise leaders of the UAE. The principles come in the form of a strategic roadmap outlining the ‘1950s Projects’ and leading the UAE’s march to deliver a brighter future with economic security and social well-being for generations to come. .

The Abrahamic Accord Peace Accord has helped to lay the foundation for peace in the region and provide opportunities for young people and future generations, reflecting the UAE’s steadfast approach based on tolerance and respect. human values, human coexistence and solidarity.

The opening of the Embassy of the United Arab Emirates in Tel Aviv and the opening of the Embassy of Israel in Abu Dhabi have ushered in a new era of cooperation, development and prosperity.

In addition, the Israeli pavilion at Expo 2020 Dubai under the slogan “Towards Tomorrow” represents a bridge to develop and strengthen relations with countries of the world.

The two countries have a clear strategic vision to strengthen economic relations between the two prosperous economies in the region, pave the way for investments and create partnership opportunities to boost social and economic growth for the benefit of their people.