UAE-Israel deal to unlock massive business avenues
26 Jan 2021 Picture used for illustrative purpose only. Last year in September, history was made as a peace deal was brokered involving the UAE and Israel. Known as The Abraham Accords, the new treaty represents a significant geopolitical statement, which economic experts predict could result in USD 4 billion of worth of additional trade.
The new relationship includes a $3 billion investment fund to facilitate bi-lateral trade. As well as symbolizing renewed peace, prosperity, order and security, the move also brings greater stability to the region, with significant opportunities for bi-lateral trade across multiple sectors expected to follow.
The new relationship will quickly build new economic and military ties.
The GITEX technology week in Dubai in early December 2020 was a unique event as it came amid a global pandemic and aimed to show that a large tech confab could be held as countries are just beginning to receive vaccines. With some 1,200 exhibitors from sixty countries, the large event in the center of Dubai included unprecedented Israeli participation this year. It also had an inaugural UAE-Israel Future Digital Economy Summit.
In some ways the event was entirely normal, a reminder of a world before the coronavirus brought air travel to a halt in March of this year. I toured the events halls of GITEX and the Israeli presence, observing that the first time that Israel had participated appeared to fit well with the rest of the exhibitors.