Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    German-Australian hydrogen supply chain investment of $90 million

    January 28, 2023

    Feds say Florida nursing schools sold 7,600 fake diplomas

    January 28, 2023

    Pakistan economy in danger of collapsing due to loan defaults

    January 27, 2023
    Facebook Twitter Instagram
    • Home
    • Contact Us
    Arab WordsmithArab Wordsmith
    • Automotive
    • Business
    • Entertainment
    • Health
    • Lifestyle
    • Luxury
    • News
    • Sports
    • Technology
    • Travel
    Arab WordsmithArab Wordsmith
    Home » UAE, Israel ink CEPA to boost bilateral trade to $10 billion in five years
    Business

    UAE, Israel ink CEPA to boost bilateral trade to $10 billion in five years

    June 1, 2022
    Facebook Twitter Pinterest LinkedIn Tumblr Email

    The Minister of Economy of the United Arab Emirates, Abdulla Bin Touq, and the Minister of Industry and Economy of the State of Israel, Major General (Retd.) Orna Barbivay, have signed the UAE-Israel Comprehensive Economic Partnership Agreement (UAE-Israel CEPA) in Dubai, beginning a new era of cooperation between the two nations that established diplomatic ties in September 2020.

    UAE, Israel ink CEPA to boost bilateral trade to $10 billion in five yearsThe second bilateral trade agreement signed by the UAE, the UAE-Israel CEPA, will lower or eliminate tariffs on 96 percent of tariff lines and 99 percent of trade value, improving access to new markets for exporters, attracting capital investment, and creating opportunities in key industries, such as energy, environment, and digital trade. SMEs in both countries will also be able to expand internationally, with a particular focus on service sectors like hospitality, financial services, distribution, and construction.

    Under the UAE-Israel CEPA, bilateral trade is expected to exceed US$10 billion within five years, and the UAE’s GDP will increase by US$1.9 billion. Total UAE exports are expected to increase 0.5 percent by 2030. Since signing the Abraham Accords, trade and investment between the UAE and Israel have grown exponentially. In the first three months of 2022, non-oil trade reached US$ 1.06 billion – five times what it was in the same period in 2021.

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    German-Australian hydrogen supply chain investment of $90 million

    January 28, 2023

    Global growth will slow to 1.9 percent in 2023, warn UN economists

    January 26, 2023

    Modi-Sisi sign MoUs to boost Indian-Egyptian trade to $12 billion

    January 26, 2023

    Google is planning to lay off 12,000 employees

    January 20, 2023
    Latest News

    German-Australian hydrogen supply chain investment of $90 million

    January 28, 2023

    Feds say Florida nursing schools sold 7,600 fake diplomas

    January 28, 2023

    Pakistan economy in danger of collapsing due to loan defaults

    January 27, 2023

    Global growth will slow to 1.9 percent in 2023, warn UN economists

    January 26, 2023

    Modi-Sisi sign MoUs to boost Indian-Egyptian trade to $12 billion

    January 26, 2023

    OPEC fund loans $120 million to Panama to tackle climate change

    January 26, 2023
    © 2022 Arab Wordsmith | All Rights Reserved
    • Home
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.