Israel Signs Historic Free Trade Pact With United Arab Emirates

Israeli President Isaac Herzog (C) and First Lady Michal Herzog are received by UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan in Abu Dhabi, United Arab Emirates, on Jan. 30, 2022. Amos Ben Gershom/GPO via AP Photo

Israel has signed a free trade pact with the United Arab Emirates (UAE), an agreement expected to accelerate economic growth in the region during the coming years.

The deal was signed by UAE Minister of Economy Abdulla bin Touq Al Marri and Israel’s Minister of Economy and Industry Orna Barbivai on May 31 in Dubai after several months of negotiations.