Dubai
The United Arab Emirates (UAE) President Sheikh Khalifa bin Zayed Al-Nahyan on Saturday issued a royal decree, lifting the economic boycott of Israel, state news agency WAM reported.
The royal decree will allow individuals and companies in the United Arab Emirates to sign deals and agreements with entities in Israel. It will also establish trade between the two states.
President Khalifa’s decree was part of “the UAE’s efforts to expand diplomatic and commercial cooperation with Israel, leading to bilateral relations by stimulating economic growth and promoting technological innovation,” Emirates News Agency agency said.
The United Arab Emiratesand Israel on August 13 reached a historic deal, brokered by US President Donald Trump, to fully normalize bilateral diplomatic relations and making the Gulf nation the third Arab country to formalize ties with Israel.
A joint statement from the United Arab Emirates, Israel and the US said: “This historic diplomatic breakthrough will advance peace in the Middle East region and is a testament to the bold diplomacy and vision of the three leaders and the courage of the United Arab Emirates and Israel to chart a new path that will unlock the great potential in the region.”— Agencies
