cnbc.com/2022/05/31/israel-signs-trade-deal-with-uae-its-biggest-with-any-arab-country.html
The trade agreement is the largest ever between Israel and any Arab country. The signing opened "a new chapter in the history of the Middle East," the Emirati Trade Minister says. The deal comes amid renewed violence between Israelis and Palestinians. The two countries have a stated target of increasing annual bilateral trade to more than $10 billion over the next five years.

The trade agreement is the largest ever between Israel and any Arab country. It is the latest product of the two countries' historic normalization deal in 2020 known as the Abraham Accords. With a stated target of increasing annual bilateral trade to more than $10 billion over the next five years.

The UAE and Israel established official relations in August of 2020. It covers 96% of the trade between the two Middle Eastern countries, which last year reached $885 million. That bilateral figure is more than twice the volume of Israel's trade with Egypt in 2021. Israel and Egypt have had a peace agreement in place since 1979.

Trust between the two countries is key to seeing more investment. "Trust is not something you can build in a month or two, but I think there is enormous goodwill," says Jon Medved, CEO of crowdfunding platform OurCrowd. "Our agreement will accelerate growth, create jobs and lead to a new era of peace, stability, and prosperity across the region," Medved says.
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