Dubai World Trade Centre has signed an agreement with Israel Export Institute to facilitate participation of Israeli exhibitors in large scale exhibitions in the UAE by end of the year. It is estimated that commercial potential from the agreement between UAE and Israel is at about USD 500 million per annum.
The framework of the agreement was created based on: cooperation and participation in international conferences and large scale exhibitions; organising and exchanging business delegations; as well as support of significant business partnership opportunities between the two countries.
It will be facilitated by Israel’s Export Institute and Ministries of Economy and Foreign Affairs, which are actively engaged in the promotion of Israeli industry following the recent signing of the peace treaty with the UAE. The Israel Export Institute responsible for Israeli participation in international exhibitions will now take on this role for the first time in the Gulf States.
Signing of the agreement is part of a new engagement between the UAE and Israel to further peace and stability in the region through dialogue and cooperation for sustainable development.
“The historic signing of the Abraham Accords agreement has opened new avenues for strengthened collaboration and exchange between the UAE and Israel. It has also established a framework for bilateral trade and economic ties to flourish between both states. Partnerships such as the one between the Dubai World Trade Centre and the Israel Export Institute will have a wide-reaching positive impact, as not only both nations stand to benefit, but so does the wider region, particularly through an inward flow of investment and trade, increased cooperation, knowledge sharing, and large-scale innovation,” said Abdulla bin Touq Al Mari, UAE’s Minister of Economy.