Israel is open for business with the United Arab Emirates by following a surprise peace agreement to normalize relations
Israel & UAE Are Tying Up For Business – The two states have built commercial and technological links, but with the arrival of a joint US-Israeli delegation on Monday they can now work together out in the open. And there is no limitation for the cooperation as they can join together in education, innovation, health, agriculture, aviation, energy, etc…
Some areas where Israel and its Arab partner share Economic interest are:
Covid 19 Research: As Israel & UAE Are Tying Up For Business in various sectors even before the announcement of the deal by the Israel Prime Minister Benjamin on August 13. He said that his country was working with UAE on different ways to fight against the coronavirus. With respect to this, last month two Israeli companies signed a deal with an Emirati firm to work together on the development on clinical coronavirus screening test.
Oil Sales: Selling of oil to Israel was fully refused by the Gulf Arab Countries. But now Israel is going to start purchasing oil from UAE and UAE will also get benefit if it can sell to a hungry customer like Israel. But no other governments in the gulf regions expect UAE have started this deal.
Tourism: Expanding two way tourism will surely benefit the trading business. And also some Muslim tourist spots is now open for Israelis that make them able to take short flight to the resorts and attractions that line the Emirati coast.
Startups: Israel has a high tech sector which is called as “Start-up-Nation” makes the 40% of the country’s exports. The UAE has forged a similar reputation, with more than a third of start-ups in the Middle East and North Africa reported to be based in the country, which seeks to be a powerhouse in the technology sector.
Water: Since the UAE-Israel deal, the two countries have agreed to open a direct channel and “collaborate in areas of food and water security.” As UAE is always depending on Desalinated water and the need is increasing day by day. Israel can solve this issue by providing the desalinated water from the world-leading desalination firms including IDE Technologies, which has 400 plants in 40 countries.
Security and Surveillance: Israeli cyber surveillance firms are eyeing the market in the Gulf, where they are already believed to be doing business with the UAE, Saudi Arabia and Bahrain — all staunch US allies.
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Source: The Times of Israel