44 C
Kuwait City
September 19, 2020
Gulflance
Home » UAE, Israel economic deal to benefit Palestinian areas: Minister – News
Khaleejtimes

UAE, Israel economic deal to benefit Palestinian areas: Minister – News

Source link


Between $300 million and $550 million worth of businesses will emerge as part of the deal.

The United Arab Emirates and Israel are in talks about including some Palestinian areas in their bilateral economic engagements, so Palestinians benefit too, a top UAE official has revealed.

“We have discussed this today with my Israeli counterpart and we are working on something,” Abdullah bin Touq Al Marri, UAE Minister of Economy, said at an online event organised by the Atlantic Council, a nonpartisan organisation in the US on Wednesday.

The minister said this in response to a question from Amjad Ahmad, Director, empowerME, Rafik Hariri Centre for the Middle East, Atlantic Council, who moderated the event. Asked for more details, Al Marri said, “We are in talks and that is part of my agenda as well,” without elaborating further.

About some Israeli officials putting $500 million as the potential value of the UAE-Israeli economic engagements, he said, “We are in calculation. I don’t have figures with me; we will announce it very soon.”

However, he estimates that between $300 million and $550 million worth of businesses will emerge as part of the deal. “An exact figure will come later,” the minister added.

The deal between both countries will not cause any competition but complement each other’s economic interests, he explained.

Regarding potential accelerators for post-Covid economic recovery in the UAE, Al Marri said research and development, and technology sectors would play that role. Reducing tariff on trade will also help the UAE economy’s recovery, he added.





Click here to read more news from @khaleejtimes

Related posts

Hazy weather, rain likely in parts of UAE – News

gulflance

UK stabbing spree that killed three a terror act – News

gulflance

7 new Indian films to premiere online as coronavirus pandemic closes theatres – News

gulflance

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Please spend a minute

Gulflance Poll

Which is worst social media?
Vote Now
close-link

You're currently offline