UAE, Israel Sign Comprehensive Economic Agreement

The UAE and the Zionist regime, which signed an agreement to normalize relations in September 2020, have taken steps to develop bilateral relations in the past two years.

Abdallah bin Zayed, the foreign minister of the United Arab Emirates and Michelle Herzog, the wife of the President of the Israeli regime, announced that Tel Aviv and Abu Dhabi have finally signed an agreement on comprehensive economic partnership between each other.

This agreement includes the cancellation or reduction of custom duty on 96% of the goods that are exchanged between the parties.

Also, the increase in non-oil trade, which witnessed a 114% growth in the recent period, is also part of this agreement.

Last May, the UAE and the Israeli regime signed a free trade agreement for the first time since the compromise agreement was implemented, the aim of which was to increase the volume of trade exchanges to more than 10 billion dollars.