Israel Signs Free Trade Agreement with UAE

MAY 30 2022·Updated DEC 29 2022

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Image credit: Strap Studios [via Times of Israel]

The Facts

Israel and the UAE signed a comprehensive free trade agreement (FTA) on Tues. that will remove tariffs on 96% of goods.
wsj
It's the first-ever FTA that Israel has struck with an Arab state and the fastest to be signed in Israel's history. This deal is also among Israel's broadest FTAs, alongside those with the US and the EU.
The Jerusalem Post
The agreement comes less than two years after the two countries normalized relations in a US-brokered deal. Trade between Israel and the UAE has reached roughly $2.5B over the last two years, more than $1B of which was reached in the first quarter of 2022.
Israel Hayom
The UAE says the agreement will promote even more bilateral trade, and expects it to reach more than $10B a year within the next five years. It's anticipated that around 1K Israeli companies will be working in or through the UAE by the end of this year.
Al Jazeera
In a sudden change that followed a statement from the UAE's foreign ministry condemning the storming of the Al-Aqsa mosque in Jerusalem and tension surrounding Israel's "flag march" on Sun., invited media weren't allowed to attend the signing ceremony.
Al Jazeera

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The Spin

Pro-Palestine narrative

This new act of treason comes mere days after the provocative and humiliating "flag march" by Israeli settlers. It's clearer than ever that the normalization of the state of Israel and Israeli politics won't benefit Palestinians. Those who engage in it have no regard for their Arab brothers.

Al Mayadeen English

Pro-Israel narrative

The comprehensive FTA will boost economic and technological development in the region. Moreover, it will demonstrate that dialogue and cooperation between nations can deliver better responses to challenges. This benefits all in the region, including Palestinians.