UAE, Israel Sign 4 Agreements

The first official UAE delegation landed in Israel’s Ben Gurion airport on Tuesday, where the delegation members were received by Israeli Prime Minister Benjamin Netanyahu and signed 4 agreements.

The CEO of the US International Development Finance Corporation Adam Boehler, announced, that the United States, the United Arab Emirates and Israel will establish a joint fund "to encourage private sector investment and regional cooperation."

The value of the new development fund is $3 billion, and it was announced simultaneously with the arrival of the delegation to Israel.

The UAE Minister of State for Financial Affairs, Humaid Al-Tayer, said that this visit "will deepen opportunities and enhance experience-exchange between the two countries", noting that the agreements signed with Israel have many benefits for both sides.

Al-Tayer added that "economic cooperation with Israel will noticeably progress," saying, "We will sign an agreement on double taxation with Israel."

He also noted that his country will cooperate with Israel in "developing innovative strategies."

On his part, Netanyahu said that the skies between the UAE and Israel would be opened and visas between the two countries would be canceled.

He also affirmed that there would be cooperation with the UAE in a number of fields, saying: “We will cooperate in the field of investment in order to create an economic environment that benefits all citizens and business leaders.”

The Israeli Prime Minister added that both countries are going to cooperate in technology and industry in order to upgrade health and environment, saying that: "All these things are needed and deserved by the people of our two countries."

This is the first visit of an Emirati government delegation to Israel, after the peace and normalization treaty concluded between both countries last September.

The Emirati delegation included Minister of State for Financial Affairs Obaid Humaid Al Tayer, Minister of Economy Abdulla Bin Touq Al Marri, and Assistant Minister of Foreign Affairs and International Cooperation for Cultural Affairs Omar Ghobash.