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DUBAI, United Arab Emirates (AFP) — Israel signed a free commerce cope with the United Arab Emirates on Tuesday, its first with an Arab nation, constructing on their US-brokered normalisation of relations in 2020.
Israel’s ambassador to the UAE, Amir Hayek, tweeted “mabruk” — or congratulations in Arabic — alongside {a photograph} of Emirati and Israeli officers holding paperwork at a signing ceremony in Dubai.
Israel has described as “historic” the deal abolishing customs duties on “96 p.c of the merchandise” exchanged between the 2 sides.
Mabruk !!! 🇮🇱🕊🇦🇪 pic.twitter.com/Uf1DcEpNBb
— Ambassador Amir Hayek (@HayekAmir) May 31, 2022
The 2020 normalisation deal reached between the 2 nations was one in all a sequence of US-brokered agreements referred to as the Abraham Accords.
Two-way commerce final 12 months totalled some $900 million {dollars}, in response to Israeli figures.
The UAE was the primary Gulf nation to normalise ties with Israel and solely the third Arab nation to take action after Egypt and Jordan.
Talks for a free commerce settlement started in November and concluded after 4 rounds of negotiations.
The most recent was held in March in Egypt between Israeli Prime Minister Naftali Bennett and Sheikh Mohammed bin Zayed Al-Nahyan, UAE’s long-time de facto ruler who turned president this month after the demise of his ailing half-brother Sheikh Khalifa.
Israel hosted in March a summit of high diplomats from the US and three Arab states — the UAE, Bahrain and Morocco — with which it has normalised ties since 2020.
Sudan additionally agreed to normalise ties with Israel, though it has but to finalise a deal.
Israel has already struck free commerce agreements with different nations and blocs, together with the US, European Union, Canada and Mexico.
In February, Israel signed a commerce cope with Rabat to designate particular industrial zones in Morocco.
© Agence France-Presse
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