UAE and Israel to sign free trade deal on Tuesday

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Tel Aviv, May 30 (UNI) Israel and the United Arab Emirates(UAE) will sign a free trade agreement in Dubai on Tuesday which it is believed will help boost trade between the two countries, Israel’s Economy Ministry said on Monday.
According to reports once the deal is signed it will lead to customs duties being eliminated on 96 per cent of products, including food, agriculture, cosmetics, medical equipment and medicine, and includes regulation, customs, services and government procurement, Khaleej Times reported.
The UAE and Israel formally established diplomatic relations in 2020 as part of the US-brokered Abraham Accords that also included Bahrain and Morocco.
The trade deal will be the first that Israel will sign with an Arab country, after the establishment of diplomatic relations with them.

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