Abu Dhabi and Tel Aviv open economic ties

Israel and the United Arab Emirates have revealed new agreements that they will sign to consolidate cooperation between them at all levels, the most notable being the economic one. In this context, an agreement to operate flights between Tel Aviv and the emirates of Abu Dhabi and Dubai was revealed, along with 99 “investment protection” agreements, aimed at “strengthening economic relations” between the two parties.

Israeli Prime Minister Benjamin Netanyahu signs an agreement allowing 28 weekly flights between Tel Aviv, Abu Dhabi and Dubai, in a “ceremonial ceremony” to be held Tuesday at “Ben Gurion airport”. The agreement will also allow an unlimited number of charter flights to “Ramon Airport” in Eilat, and 10 weekly cargo flights, and is expected to come into effect within a week, according to the Israeli Transport Ministry. The latter stated that “actual direct flights are expected to begin within a few weeks.” In this context, Transport Minister Miri Regev said: “Israel is witnessing the beginning of an economic boom with the opening of new markets and the opening of the sky to new, wonderful and exciting destinations.”
Furthermore, the two parties reached an agreement that would provide “investor protection.” According to the UAE Finance Ministry Undersecretary Younis Haji Al-Khoury, Abu Dhabi has signed 99 agreements to protect investment, aimed at strengthening economic relations and fostering competition, as well as attracting investment. Under the agreement, which has yet to be signed by the two finance ministers, investors will be “protected from arbitrary changes in regulations and political situations, and will be able to transfer funds out of the country if necessary,” a framework that the Israeli ministry He said it would support investor confidence and “protect.” Non-commercial risk investments, such as nationalization, forfeiture, judicial seizure, and asset freezing. It allows the establishment of authorized investments and the transfer of profits and earnings in convertible currencies.

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