UAE explores ways to strengthen economic ties with Israel

UAE Minister of State for Entrepreneurship and SMEs, Dr. Ahmad Belhoul Al Falasi has discussed strengthening economic ties and increasing direct flights between the two countries with the Israeli Tourism Minister, Mr. Yoel Razvozov.

The two ministers reviewed the prospects for expanding commercial opportunities across priority industries, speeding non-oil trade exchanges, and diversifying bilateral investments in the post-pandemic phase.

“On the occasion of the first anniversary of signing the Abraham Accords Peace Agreement, we affirm the impressive success achieved over the past period by the two nations specially at the tourist level. Despite the movement restrictions associated with the pandemic, the tourist exchanges between the two nations witnessed significant momentum, with around 250,000 Israeli tourists having visited the UAE over the past period. And we expect cooperation in this field to further grow over the coming period. Also, the tourist sector is a mainstay for the development of economic relations between the two countries.”

For his part, Dr. Al Falasi said “the UAE-Israeli relations are steadily growing and we’re determined to further develop them over the coming period.” He remarked that Expo 2020 Dubai provides a valuable opportunity for Israeli businesses to benefit from the opportunities up for grabs during the global fair.

The UAE minister further noted that non-oil trade exchanges between the two countries totaled $700 million in the first year after the Abraham Accords Peace Agreement was signed.

“The UAE tourist and hotel establishments have secured high occupancy rates over the past period, overtaking 10 of the world’s most-visited tourist destinations. An achievement that would not have been made but for the efforts made at the country level to stamp out the challenges triggered by the COVID-19 pandemic,” Dr. Al Falasi added.

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