Dubai FDI, Israeli Manufacturers’ Association unite to encourage cross-border investment

By Shilpa Annie Joseph, Desk Reporter
  • Follow author on
Representational Image

The Dubai Investment Development Agency (Dubai FDI), a subsidiary of Dubai Economy, has signed an agreement with the Manufacturers’ Association of Israel (MAI) to explore cooperation in promoting cross-border business and investment opportunities.

The Memorandum of Understanding (MoU) between Dubai FDI and MAI will help to strengthen business and investment ties between Dubai and Israel, as well as create a mutually beneficial and collaborative relationship to support potential business links, investment, and promotional activities.

Mr. Fahad Al Gergawi, CEO of Dubai FDI said, “As a connected smart city, Dubai has been at the forefront of rolling out strategic initiatives and innovation across sectors. This enhances the emirate’s preparedness to respond to investor needs and ensure investment flows. Dubai continues to enjoy a global reputation for being a diverse, stable, and secure economy that nurtures innovation and remains future-ready as a matter of policy.”

The MOU will pave the way for cooperation in creating investment and trade opportunities through information exchange and joint promotional activities. This includes attracting companies to Dubai and Israel, hosting joint events, and supporting reciprocal visits of government and industry representatives.

Dr. Ron Tomar
Dr. Ron Tomar
President – MAI

“The peace agreement between the two countries has created an extraordinary opportunity to develop Israel’s ties with the countries of the region. Our leaders paved the way, and now it is for us – the business leaders – to step in and ensure that both communities shall walk that way and reach fruitful and beneficial mutual results. This is also my personal goal, and the goal of the agreement, which I am excited to sign – to create a long-term partnership between the two countries, which will help to develop the trade and the economy in the region. Israel can serve as the new gate of the Gulf States to the West, and the United Arab Emirates can serve as the new gate of Israel to the Gulf States and Asia, and together we will promote the vision of peace, brotherhood, and cooperation.”

Both the entities will encourage their respective networks to establish and promote trade and investment ties, facilitate cross-border meetings and business trips, and share related trade, investment, and best practices information with their respective networks.

“This MOU is an important milestone in deepening relationships and building bridges between Israel and Dubai; both as a platform for local shared industrial activities and for reaching, together, into emerging markets. It is a framework for initiating and scaling cooperation that will help harness the complementary business and industrial energies and activities in Israel and the UAE,” commented Ms. Tally Zingher, Managing Director of Blue Laurel.

Related: Abu Dhabi Ports join with Israeli Manufacturers’ Association to boost trade ties