March 16, 2021 12 min read Opinions expressed by
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When the Abraham Accords were brokered between the UAE and Israel last September, it brought forward hope for renewed peace and greater prosperity in the region. While this signals to a future that is yet to unfold, the value inherent in this agreement between Israel and the UAE has already been revealing itself from a trade and business perspective.
Economic experts predict that bilateral trade between Dubai and Israel is expected to reach AED15 billion in the next few years, says Hassan Al Hashemi, Vice President of International Relations, Dubai Chamber of Commerce and Industry. From September 2020 to January 2021, as per Dubai Customs statistics, Dubai’s trade with Israel reached AED1 billion in value and 6.217k tonnes in volume, of which imports were valued at AED325 million (or 718 tonnes), exports
Israel joins Dubai-led international trade program
(Israel Hayom via JNS) Israel on Wednesday became the 10th country to join the United Arab Emirates-led World Logistics Passport program, in a move that will allow Israeli firms to expand trade to countries in the southern hemisphere. India, South Africa, Indonesia, Brazil and Columbia are all members of the WLP.
At a virtual ceremony to sign the agreement, Sultan Ahmed Bin Sulayem, the chairman of Dubai’s Ports, Customs and Free Zone Corporation said, “We welcome the Federation of Israeli Chambers of Commerce (FICC) into the World Logistics Passport, as we further strengthen and elevate ties between our two nations. Through the WLP, we aspire to forge closer economic ties and harness our collective experience, to unlock new trade opportunities for Israel with the world, via Dubai, and with Tel Aviv as a major logistics center.” FICC vice president Amir Shani said, “This partnership will allow Israeli companies to reduce co
A general view of the Business Bay area, after a curfew was imposed to prevent the spread of the coronavirus disease (COVID-19), in Dubai, United Arab Emirates, March 28, 2020. Photo: Reuters / Satish Kumar / File.
JNS.org – Israel on Wednesday became the 10th country to join the United Arab Emirates-led World Logistics Passport program, in a move that will allow Israeli firms to expand trade to countries in the southern hemisphere.
India, South Africa, Indonesia, Brazil and Columbia are all members of the WLP.
At a virtual ceremony to sign the agreement, Sultan Ahmed Bin Sulayem, the chairman of Dubai’s Ports, Customs and Free Zone Corporation, said, “We welcome the Federation of Israeli Chambers of Commerce (FICC) into the World Logistics Passport, as we further strengthen and elevate ties between our two nations. Through the WLP, we aspire to forge closer economic ties and harness our collective experience, to unlock new trade opportunities for Israel with the world, via
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The World Logistics Passport (WLP), a major policy initiative established to increase trading opportunities between emerging markets, has welcomed Israel as a participant in the programme, marked by a virtual signing ceremony.