The free trade agreement between Israel and the United Arab Emirates went into effect Sunday after the customs agreement was signed in the presence of Prime Minister Benjamin Netanyahu, Foreign Minister Eli Cohen and Emirati Ambassador to Israel Mohamed Al Khaja.
This is the last part of the trade deal, which will lower tariffs on 96% of products, help lower the cost of living and create new jobs.
"The historic peace agreement we signed with the UAE continues to bear fruit for the benefit of the citizens of both countries," Netanyahu said. "I am sure that we will continue to expand Israle's circle of peace with other countries in our region."