Sharing the vision of deepening economic ties between the two countries for the benefit of both peoples, Sheikh Abdullah bin Zayed Al Nahyan and Yair Lapid signed key agreement, reports Asian Lite News
UAE’s minister of foreign affairs and international cooperation Sheikh Abdullah bin Zayed Al Nahyan, and Israeli minister of foreign affairs Yair Lapid on Wednesday met in Abu Dhabi and agreed to cooperate on key areas. Both the leaders expressed their conviction that bilateral ties will be deepened, broadened and “strengthened even further soon for the benefit of both countries and the region as a whole.”
Recognising the brave decision made by the leadership of the UAE and Israel, thus paving the way for historic change in the region and creating a better future for the region’s youth, both ministers expressed the importance of peaceful and friendly relations between the UAE and Israel and between the Emirati and Israeli peoples.
The Abraham Accords are a beacon of light that paves the way for other countries to join the circle of peace and will enhance stability and prosperity for both countries, as well as for the entire region. Both sides also acknowledged the significant advances made since the signing of the Abraham Accords in September 2020.
Both ministers emphasised the importance of the opening of diplomatic missions in the UAE and Israel as a key component of promoting relations between the two countries.
Economic Cooperation
Sharing the vision of deepening economic ties between the two countries for the benefit of both peoples, the two ministers signed an Agreement on Economic and Trade Cooperation.
The agreement reflects the two governments’ commitment to the development of economic relations and the free flow of commodities and services, as well as cooperation in the fields of exhibitions, the exchange of expertise and knowledge, the exchange of delegations, cooperation between chambers of commerce, the promotion of joint research and development, and agro technologies.
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The parties agreed on establishing a joint economic committee headed by the respective ministries of economy of both countries and tasked with implementing the agreement to remove barriers and increase bilateral trade.
Both sides expressed that they are looking forward to signing a free trade agreement, and they have commenced discussions on this matter.
Both ministers discussed ways to further explore means to increase investments in each other’s economies, infrastructure, and science and technologies, thereby bringing together the ingenuity and spirit of innovation and vision of both countries’ peoples and leaderships.
Regional Cooperation
The ministers discussed the importance of deepening strategic dialogue and cooperation between the two countries to address regional challenges and seize opportunities. They agreed that close strategic dialogue would provide an effective mechanism to promote the positive force of peace in the region.
The ministers agreed to work together to promote a narrative of peace and coexistence throughout the Middle East to discourage divisiveness, aggression and conflict.
The two countries discussed the importance of regional cooperation in the fields of technology, clean energy, climate change, agro and water technologies, combating desertification, transportation, and health.
Building on the spirit and vision of the Abraham Accords, and believing in the common goal of bringing prosperity not only to their countries but also to the entire region, both ministers discussed opportunities including multilateral cooperation to share the fruits of peace with the peoples of the Middle East.
Overcoming Covid-19 Challenges
Recognising the global challenges presented by Covid-19, both in health and economy, as well as other areas, the two ministers agreed that international cooperation is a key factor to overcome the crisis.
The parties decided to work together towards enabling quarantine-free travel between the two countries for those fully vaccinated against Covid-19, whilst ensuring public health and safety. Both sides will work towards formulating a mutually acceptable mechanism to be implemented as soon as possible.
Meetings between the UAE Ministry of Foreign Affairs and International Cooperation and Israeli Ministry of Foreign Affairs to finalise the arrangement began in March intending to increase tourism between the two countries. The travel corridor is also expected to generate additional opportunities to reinforce economic and people-to-people ties.
Both ministers expressed their belief that a successful effort to control the spread of the Covid-19 pandemic will expedite their efforts in this respect.
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