The ink on the documents of the Abraham Accords documents — signed on Aug. 13, 2020 in front of the White House — hadn’t even dried when Israel and the United Arab Emirates were salivating over the potential business opportunities created for both sides. Indeed, it had long been reported that unofficial, under-the-table commercial contacts had been taking place between the two for years. Now that everything is open and in full view, the annual economic benefits are projected in the billions of dollars.
Quote: “In practical terms, the ability for Israeli companies to establish openly now a presence in the UAE and/or team up on a joint venture basis (whether contractual or corporate) with counterparts in the UAE represents a boon for both Israeli businesses looking to expand into the Gulf region and UAE entities seeking to grow their own trading networks. Early estimates indicate that the normalisation of ties could see soon see bilateral trade in excess of $6bn.”
Sources: Wikipedia, Arabian Business
Learn more about the United Arab Emirates on Wikipedia. ►
Read “Welcoming opportunities: The benefits of UAE-Israel cross-border investment.” ►
Read “The 5 Biggest Opportunities For Israeli Startups In The UAE Right Now.” ►
Watch “Virtuzone Chairman: Setting up in the UAE gives Israeli businesses access to new markets” [6:04]. ►
Watch “Israel, New Gulf Partners Prepare for Big Business” [2:19]. ►
Watch “GITEX Technology Week: Trade between the UAE and Israel could be worth more than $5bn” [2:36]. ►
Photo: SHRM
