UAE Sees $1 Trillion in Trade With Israel Over Next Decade, Says Minister of Economy

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Algemeiner: The United Arab Emirates expects economic activity with Israel to grow to more than $1 trillion over the next decade.

“We have $600 to $700 million dollars of bilateral trade happening, we have funds of billions of dollars that have been announced jointly between the two countries, we are moving into so many areas of economic opportunities,” said UAE Minister of Economy Abdulla Bin Touq. “We are looking to create over $1 trillion dollars of economic activity over the next decade.”

Then he shall confirm a covenant with many for one week;
But in the middle of the week
He shall bring an end to sacrifice and offering.” Daniel 9:27

The United Arab Emirates expects economic activity with Israel to grow to more than $1 trillion over the next decade.

“We have $600 to $700 million dollars of bilateral trade happening, we have funds of billions of dollars that have been announced jointly between the two countries, we are moving into so many areas of economic opportunities,” said UAE Minister of Economy Abdulla Bin Touq. “We are looking to create over $1 trillion dollars of economic activity over the next decade.”

 

Talking at a public event marking the one-year anniversary of the normalization of ties between Israel and the UAE, Bin Touq said that the Gulf power has signed over 60 memorandums of understanding with the Jewish state. The UAE and Bahrain last year agreed to formalize their diplomatic ties with Israel under the so-called “Abraham Accords” brokered with the help of the Trump administration.

One of the investments cited by Bin Touq was the $1 billion stake in an Israeli gas field by Abu Dhabi’s Mubadala Petroleum.

Talking at a public event marking the one-year anniversary of the normalization of ties between Israel and the UAE, Bin Touq said that the Gulf power has signed over 60 memorandums of understanding with the Jewish state. The UAE and Bahrain last year agreed to formalize their diplomatic ties with Israel under the so-called “Abraham Accords” brokered with the help of the Trump administration.

One of the investments cited by Bin Touq was the $1 billion stake in an Israeli gas field by Abu Dhabi’s Mubadala Petroleum. Read More

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