Subscribe to Updates

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

    What's Hot

    Strengthening UAE-India relations: Top diplomats discuss economic partnership

    June 3, 2023

    Vivid Sydney 2023 Kicks Off With Biggest Opening Weekend on Record

    June 2, 2023

    Ayurveda vs science: Decoding the cold water conundrum

    June 2, 2023
    Facebook Twitter Instagram
    KSA News HubKSA News Hub
    • Automotive
    • Business
    • Entertainment
    • Health
    • Lifestyle
    • Luxury
    • News
    • Sports
    • Technology
    • Travel
    KSA News HubKSA News Hub
    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 Reddit WhatsApp 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 WhatsApp Reddit Email

    Related Posts

    Strengthening UAE-India relations: Top diplomats discuss economic partnership

    June 3, 2023

    Global stocks surge as US debt ceiling agreement brings relief

    May 29, 2023

    Global clean energy investment set to reach $1.7 trillion, overtaking oil production

    May 27, 2023

    European Investment Bank supports circular economy with €3.4 billion lending

    May 27, 2023

    Successful UAE-India partnership stands as a model of bilateral cooperation

    May 27, 2023

    ADIHEX introduces first-ever Best Hunting Knife competition

    May 23, 2023
    Latest News
    Business

    Strengthening UAE-India relations: Top diplomats discuss economic partnership

    June 3, 2023

    Sheikh Abdullah bin Zayed Al Nahyan, the Minister of Foreign Affairs, held a crucial meeting…

    Ayurveda vs science: Decoding the cold water conundrum

    June 2, 2023

    UN urges immediate action to prevent food and aid crises in cyclone-hit Myanmar

    June 2, 2023

    Big tobacco’s big lie: Philip Morris’ smoke and mirrors strategy

    June 1, 2023

    Unveiling the most overlooked early heart attack symptom

    June 1, 2023

    Sony faces antitrust probe in Romania over PlayStation’s market dominance

    May 31, 2023

    Audio-Technica brings back the Sound Burger: a retro turntable for the modern age

    May 31, 2023

    From crisis to catastrophe: China’s potential 65 million COVID cases per week by June

    May 30, 2023
    © 2021 KSA News Hub | All Rights Reserved
    • Home
    • Contact Us

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