Israeli business leaders meet with business leaders in UAE
The organizations participating in the delegation estimate that the volume of trade between Israel and the UAE could reach billions of dollars.
By JERUSALEM POST STAFFIsraeli business delegation to the UAE(photo credit: MANUFACTURERS ASSOCIATION OF ISRAEL)
Israel's first official delegation of business leaders travelled to the United Arab Emirates this week, according to Israel's Export Institute. The delegation was invited by the president and chairman of the UAE Chamber of Commerce and Industry.The organizations that are participating in the delegation estimate that the volume of trade between Israel and the UAE could reach billions dollars. The majority of Israeli exports to the UAE will likely be in areas of cyber services, medical equipment, agricultural technology, solar energy, water desalination and pharmaceuticals.The delegation includes representatives from the Israeli Chamber of Commerce, the Manufacturers Association of Israel, the Directorate of Employers and Businesses, the Israel Export Institute and the Israel Agricultural Association.The goal of the delegation is to lay groundwork for cooperation between the business sectors of Israel and the UAE, foster ties with leading Emirati institutions and advance free trade with the Arab Gulf states and East African and South Asian countries via UAE free trade zones. During the trip, the delegates will meet with their UAE counterparts and visit the city's main trade centers.The ties established by the Abraham Accords "will foster an extensive export and import system, undoubtedly bringing Israel and the UAE closer commercially, economically, socially and diplomatically," said Dr. Ron Tomer, president of the Manufacturers Association of Israel and chairman of the Directorate of Employers and Businesses."Israel’s wide-ranging industries are characterized by advanced and innovative technologies, which can assist the UAE and lead them into a new technological age. This is even more relevant during the current global pandemic, as Israeli industries seek out new markets to compensate for losses caused by the adverse effects of COVID-19. At the Manufacturers Association of Israel, we are doing our best to help and move things forward."Uriel Lynn, president of the Israeli Chambers of Commerce, commenting on the market, said that, "there is a significant demand for food, chemicals, plastic products, medical equipment and services, security services, and research and development for software-related services in the Gulf nations. Israel is a world leader with proven capabilities in all of these fields."Lynn also emphasized potential imports to Israel, saying that, "there will also be a significant exchange in exports in the opposite direction, as Israel plans to purchase petroleum products and tourism services from the UAE."There are also ample opportunities for mutual investment," he said. "The UAE has an investment fund worth nearly 1.3 billion USD, and they are interested in investing in developing technologies in Israel. We sincerely hope that these economic possibilities, beyond the peace accords, will lead to a true friendship between our two great nations.”
