In a one-on-one interview with Yaakov Katz, Jerusalem Post Editor-in-Chief at the Jerusalem Post-Khaleej Times Global Investment Forum in Dubai, Dr. Raphael Nagel, founder and chairman of the Abrahamic Business Circle, described how the Abraham Accords have forged a path to peace and prosperity between Israel and the UAE and Bahrain, and discussed the numerous investment possibilities between Israel and the Gulf states.
“Israel’s biggest export is technology, and when you have a lot of technology, there are a lot of things that you can collaborate on with the Gulf states, and especially the UAE,” said Nagel. He added that Israeli businesses have well-established knowledge, experience, and expertise across a range of areas, which the UAE can now benefit from as well, including energy (including renewable energy), water, aviation, finance and investment, and telecommunications.Nagel said that the agreements would lead to an increase in tourism, business, entrepreneurship, space exploration, and investment. At the Gala evening event preceding the Global Investment Forum, Nagel received the Jerusalem Post Award for Economic Diplomacy for his efforts in fostering a shared vision of tolerance and economic prosperity.Nagel said that he anticipates the signing of a bilateral agreement that will provide incentives and protections to entrepreneurs who make investments in each other’s countries. “It is now anticipated,” he noted, “that several Israeli businesses and investors will be looking to the UAE to set up or expand their operations.”Illustrating how the Abraham Accords have acted as a bridge between peoples, he said, “We have been able to connect an Israeli company to deal with a UAE-based company that, ironically, is owned by a Palestinian. Now, an Israeli businessman is working together with a Palestinian businessman through the bridge of the UAE.”Nagel pointed out that the Abrahamic Accords – in addition to boosting economic ties and trade between the countries – will bring new opportunities for cooperation between the UAE and Israel.This article was written in cooperation with the Abrahamic Business Circle.