Israel, UAE agree deal to boost investment in each other’s economies

Israel, UAE agree deal to boost investment in each other’s economies

Israel and the United Arab Emirates (UAE) have reached a bilateral agreement that will give incentives and protection to investors who make investments in each other's countries, both finance ministries said on Sunday.

The agreement is one of the first between the UAE and Israel after they agreed to normalise relations in August.

It is also the first such agreement Israel has forged with an Arab country and will become the 37th such treaty for Israel, with the 36 others mainly Western countries. The last was signed with Japan in 2017.

The UAE has signed 99 investment protection treaties and this one with Israel would strengthen economic ties, encourage competition and increase the attractiveness of investments between the two countries, UAE