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(Communicated by the Ministry of Economy and Industry Spokesperson)

The signing ceremony will take place tomorrow morning (Tuesday, 31 May 2022) in Dubai.

The comprehensive, significant and groundbreaking agreement is expected to increase trade in goods and services between the countries, increase Israeli exports to the United Arab Emirates and grant immediate or gradual tax exemption on 96% of trade between countries: food, agriculture, cosmetics, medical equipment, medicine and more.

The agreement also includes regulatory and regulatory issues, customs, cooperation, government procurement, e-commerce and the preservation of intellectual property rights.

Minister Barbivay will also sign a Memorandum of Understanding for cooperation in advanced production and will meet with ministers, senior government officials and representatives of companies and corporations to strengthen trade ties between the two countries.

The Minister of Economy and Industry, Maj. Gen. (Res.) Orna Barbivay: “This is a visit of strategic importance to the economic relationship between the State of Israel and the United Arab Emirates, in the framework of which I will sign the Free Trade Agreement and promote a series of economic partnerships. Together we will remove barriers and promote comprehensive trade and new technologies, which will form a solid foundation for our common path, will contribute to the well-being of our citizens and simplify business procedures This is Israel’s first, comprehensive, Free Trade Agreement with an Arab state, which takes place so soon after the establishment of diplomatic relations.”