International
Uae will have a $1 trillion business relationship with Israel in 10 years
Seetao 2021-09-14 14:58
  • The two sides have signed 60 preliminary agreements, and the economic value will exceed 1 trillion US dollars in the next ten years.
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According to Jiandao.com, citing Minister of Economy Abdullah bin Touk, the UAE hopes to further strengthen its economic ties with Israel. It is estimated that the economic value of the UAE will exceed US$1 trillion in the next ten years.

Since the normalization of relations in 2020, the two sides have signed 60 preliminary agreements, and the UAE Minister stated that they expect to reach more agreements in the next two years. "Our bilateral trade volume is between 600 million and 700 million U.S. dollars: we have billions of dollars in funding announced jointly by the two countries." Ben Tucker said at a virtual conference as he is leading a delegation in the United States.

The UAE pays special attention to transactions in the areas of security, energy and food security. He added: We look forward to creating more than $1 trillion in economic activity in the next ten years. The UAE normalized its relations with Israel in August 2020, urging other Arab countries such as Bahrain, Morocco and Sudan to do the same.

Keywords: overseas engineering, international engineering construction, foreign engineering construction news

This move is seen as part of the UAE’s aggressive economic plan because it is getting rid of its dependence on oil-a common theme in the oil-rich Gulf countries.Editor/XuNing

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