UAE signs comprehensive economic partnership agreement with Zionist entity
ABU DHABI, Dec. 11 (YPA) – The governments of the UAE and the Israeli entity have ratified the comprehensive economic partnership agreement (free trade) between them.
The UAE’s Minister of State for Foreign Trade, Thani Al-Zeyoudi, said on Sunday that “the agreement will stimulate trade prosperity between the two sides, and will create more opportunities for cooperation in key sectors such as renewable energy, advanced technology, and food security.”
The free trade agreement was signed in May, in a move described by the Zionist entity at the time as “historic.”
Al-Zeyoudi stated that the agreement “will cancel or reduce fees on 96% of products, which will provide a strong boost to our industrial and service sectors.”
He pointed out that non-oil trade between the UAE and the Israeli entity increased by 114% in the first nine months of 2022, recording about $2 billion.
Talks began between the UAE and the Israeli occupation, to sign a free trade agreement, in November 2021.
YPA