Israeli companies have been doing business in the UAE for quite some time

While frowned upon, so to speak, the UAE government approached Israeli companies in roundabout ways before, according to the report.

By JERUSALEM POST STAFF
General view of the Burj Khalifa, the world's tallest building, and the Dubai skyline from the Gevora Hotel, in Dubai (photo credit: REUTERS/CHRISTOPHER PIKE)
General view of the Burj Khalifa, the world's tallest building, and the Dubai skyline from the Gevora Hotel, in Dubai
(photo credit: REUTERS/CHRISTOPHER PIKE)
Despite the recent establishment of formal diplomatic ties between the two countries, around 200 Israeli companies have been doing business in the UAE for quite some time now, according to Calcalist quoting the Manufacturers Association of Israel.
The bulk of the business comes by way of product exports, stemming from companies specializing in some of Israel's most prominent industries - national security, telecommunications, medical apparatuses, etc.
However, most of the trade between the UAE and Israel is done through third party subsidiaries that reside in other countries, such as the United States or Europe. The full scope of Israeli products being exported to the UAE is unclear due to this fact.
When the Silk Road finally opens between the two, after all accord agreements are final, the Manufacturers Association of Israel believes that Israeli companies will no longer have to rely on these third party subsidiaries to export their products directly to the UAE, or support their products once in the country - opening up streams of previously locked-in capital to be used elsewhere.
"We are certain this agreement will expand the until-now unofficial commercial ties with the UAE and allow the export of additional products, such as medicine, whose country of origin must be clearly marked,” President of the Manufacturers Association of Israel Ron Tomer told Calclist.
While frowned upon, so to speak, the UAE government approached Israeli companies in roundabout ways before, according to the report.
Ramat Gan-based Insights: Powering Collective Thinking Ltd. has been working with the Dubai government for the past six months, while making note not to advertise it.
Its German subsidiary in Berlin was approached directly by the Dubai government, who found their company via an NYU publication, looking to use their platform to gain feedback from the citizens of their country.
“The email reached our German team in Berlin and it conducted the sale,” Founder and Chairman of Insights Gal Alon told