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Israel, UAE sign historic free trade agreement

Israel and the United Arab Emirates signed a free trade agreement on Tuesday in Dubai. The deal is the first of its kind between Israel and an Arab state.

Israeli Foreign Minister Yair Lapid hailed the agreement, calling it “historic,” and thanked Israel’s Economy and Industry Minister Orna Barbivai for her contribution to achieving it. Barbivai attended the signing ceremony in Dubai, together with her UAE counterpart Abdulla bin Touq Al Marri and UAE Minister for Foreign Trade Thani bin Ahmed Al Zeyoudi.

Barbivai said on Monday that customs duties will be eliminated on 96 percent of products, including food, agriculture, cosmetics, medical equipment and medicine, according to Reuters.

The agreement also includes regulation, customs, services and government procurement.

Read More: JNS