On the occasion of the first anniversary of the Abraham Accords, we are glad to share the progress UAE and Israel have made with the common goal of building people-to-people connections, spurring growth and generating new opportunities.
Trade between countries hits over $600m in the 1st half of 2021 and investors say big opportunities are still ahead. The UAE believes that economic activity between the two countries can reach more than $1 trillion over the next decade. The projects initiated during the first year of agreements include a new UAE embassy in Tel Aviv, joint coronavirus research, and an agreement by Abu Dhabi’s Mubadala sovereign wealth fund to buy a $1 billion stake in a Mediterranean gas rig co-owned by Chevron and several Israeli energy companies.
Tourism is booming, too, despite pandemic restrictions. The past year has seen some 200,000 Israelis flying to the UAE, especially Dubai, where hotels now cater to Jewish travelers with kosher buffets and ballrooms turned into synagogues for this week’s Rosh Hashanah holiday. When the Dubai Expo opens in October, Israel will be, for the first time at any such event in the Arab world, among 191 nations with an official pavilion.
You can read about all the projects that have already been achieved here