UAE, Israel to sign free trade deal on Tuesday

Ministry says customs duties will be eliminated on 96% of products



Thani Al Zeyoudi/Twitter
Thani Al Zeyoudi/Twitter

By Reuters

Published: Mon 30 May 2022, 11:30 AM

Israel and the United Arab Emirates will sign a free trade agreement in Dubai on Tuesday in a move aimed at boosting trade between the two countries, Israel's Economy Ministry said on Monday.

The ministry said customs duties will be eliminated on 96 per cent of products, including food, agriculture, cosmetics, medical equipment and medicine, and includes regulation, customs, services and government procurement.

The UAE and Israel formally established relations in 2020 as part of the US-brokered Abraham Accords that also included Bahrain and Morocco. The trade deal is Israel's first with an Arab country.

ALSO READ:


More news from Economy