The Israeli Economy Ministry said on Monday that Israel and the United Arab Emirates (UAE) will sign a free trade deal on Tuesday, the first of its kind with an Arab country.
The agreement will be inked in Dubai with the goal of increasing trade between the two countries, according to the ministry.
Customs tariffs between Israel and the UAE will be reduced on 96 percent of products, according to the statement, including food, agriculture, cosmetics, medical equipment, and pharmaceuticals.
According to Israel’s Ambassador to the UAE, Amir Hayek, Israeli Economy and Industry Minister Orna Barbivai arrived in Dubai on Sunday to sign the agreement.
The UAE and Israel inked a deal to normalize their relations in September 2020, which was backed by the US. Since then, senior officials from the two nations have made visits and inked scores of bilateral agreements in a variety of industries, including investment, banking, and tourism.
The UAE was joined by three other Arab states Bahrain, Morocco, and Sudan in the contentious Abraham Accords.
