Hot on the heels of the recent peace treaty between Israel and the UAE, an alliance has been formed in the areas of MICE and broader trade development between the two countries.
This news follows an agreement between the Dubai World Trade Centre and Israel Export Institute. The two organisations will now work together to facilitate the participation of Israeli exhibitors in largescale exhibitions in the UAE by the end of 2020. The partnership creates a platform for cooperation and participation in international conferences and largescale exhibitions, organising and exchanging business delegations between the countries, and support in realising the significant business partnership opportunities. The commercial potential of agreements between the UAE and Israel is estimated at $500 million per annum across various sectors.
The UAE Minister of Economy, HE Abdulla bin Touq Al Mari enthused on the news: “The historic signing of the Abraham Accords agreement has opened new avenues for strengthened collaboration and exchange between the UAE and Israel. It has also established a framework for bilateral trade and economic ties to flourish between both states. Partnerships such as the one between the Dubai World Trade Centre and the Israel Export Institute will have a wide-reaching positive impact, as not only both nations stand to benefit, but so does the wider region, particularly through an inward flow of investment and trade, increased cooperation, knowledge sharing, and largescale innovation.”
Also commenting was director general, Dubai World Trade Centre Authority (DWTCA) and Dubai’s Department of Tourism and Commerce Marketing (DTCM), HE Helal Saeed Almarri: “Our partnership with the Israel Export Institute is a significant step forward as it marks the commencement of a meaningful long-term trade and business relationship between the UAE and Israel. In the face of a rapidly evolving global setting, we are confident that this collaboration will create unparalleled immediate market access opportunities for UAE and Israeli businesses that are looking to expand their reach in both countries, with wider economic impact across the region.”