The UAE and Israel review economic ties during Expo 2020 Dubai

Tuesday, October 19, 2021

The United Arab Emirates’ Minister of State for Entrepreneurship and SMEs Ahmad Belhoul al-Falasi met with Israel’s Tourism Minister YoelRazvozovduring the opening of the Israeli Pavilion at Expo 2020 Dubai to evaluate economic ties.

The two sides discussed the prospects of further growth and business opportunities across different sectors, speeding up non-oil trade exchanges and expanding bilateral investments in the post-pandemic stage.

“The UAE-Israeli relations are steadily growing, and we’re determined to further develop them over the coming period,” said al-Falasi.

Ahmad Belhoul al-Falasisaid that Expo 2020 Dubai represents a prized opportunity for the Israeli businesses to take advantageof the opportunities during the global fair.

Non-oil trade exchanges between the UAE and Israel amounted to $700 million during the first year after the signing of the Abraham Accords Peace Agreement.

“The UAE tourist and hotel establishments have secured high occupancy rates over the past period, overtaking 10 of the world’s most-visited tourist destinations,” said the UAE minister.

Razvozov said: “On the occasion of the first anniversary of signing the Abraham Accords Peace Agreement, we affirm the impressive success achieved over the past period by the two nations specially at the tourist level.”

“Despite the movement restrictions associated with the pandemic, the tourist exchanges between the two nations witnessed significant momentum, with around 250,000 Israeli tourists having visited the UAE over the past period,” he added.

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