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Monday, May 27, 2024

UAE Ras Al Khaimah Economic Zone Signs Cooperation Agreement with Israel


The UAE and Israel agreed to normalize relations as part of Trump’s controversial Abraham Accords, with the two countries signing a deal that will benefit both UAE and Israeli industries.

this UAE and Israel The Ras Al Khaimah Economic Zone (RAKEZ) will seek to expand mutual investment and manufacturing under the agreement signed on Wednesday with the Israel Manufacturers Association (IMA), UAE Manufacturers Association (IMA) WAM The state news agency reported.

The Memorandum of Understanding (MoU) calls for cooperation between the two parties to create investment opportunities and expand the business of industrial companies, WAM reported.

UAE and Israel agree to normalize relations in August 2020 as part of agreement abraham agreementeach approved the plan in October of that year.

“We must continue our efforts to increase the level of cooperation between the UAE and Israel,” said RAKEZ CEO Rami Jallad.

The IMA includes companies in industries such as advanced technology, textiles, fashion, chemicals, pharmaceuticals, environment, food, metals, power, infrastructure and consumer products.

The move by the UAE to increase economic activity with Israel comes as other Arab countries prepare to normalize with Israel, such as Saudi ArabiaDue to the far-right nature of the current Israeli government and the growing Violence Israeli government and settler efforts illegal expansion Settlement activity in the West Bank.

The Abraham Accords have been criticized by Palestinians and activists as a way not only for regional powers to normalize the Israeli state, but also for Israel’s illegal occupation of Palestinian land and its territories. Chauvinism is increasingly overt political character.



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