To enhance economic and investment cooperation between the two countries

Obaid Al Tayer leads the UAE delegation to Tel Aviv

In a step aimed at establishing the frameworks for economic and investment cooperation and facilitating the movement of trade between the UAE and the State of Israel, Obaid Humaid Al Tayer, Minister of State for Financial Affairs, headed today the UAE delegation heading to the Israeli capital Tel Aviv, which included Abdullah bin Touq Al Marri, Minister of Economy, Omar Saif Ghobash, Assistant Minister of Foreign Affairs and International Cooperation for Cultural Affairs, Younis Haji El-Khoury, Undersecretary of the Ministry of Finance, and Majid Ali Omran, Adviser to the Minister of Finance.

On the sidelines of the visit, which came after the signing of the Abrahamic Agreement for historic peace between the two countries, Obaid Humaid Al Tayer signed 4 agreements on behalf of the UAE, which are an agreement to protect and encourage investment, a memorandum of understanding for mutual economic cooperation, an agreement to declare intentions regarding establishing cooperation in the field of financial services, and a memorandum An understanding in the fields of improving and developing advanced science and technology.

These agreements were signed by the State of Israel, Minister of Finance, Yisrael Katz, in the presence of Younis Haji El-Khoury, and a number of officials from both sides.

Obaid Humaid Al Tayer indicated that the signing of the agreements comes from the desire of both countries to create an attractive investment climate, and within a legal framework that attracts mutual investments, and opens new horizons to lay the foundations for economic, trade and investment partnership in various vital areas of common interest.

He said, "I express my gratitude and appreciation to Israeli Prime Minister Benjamin Netanyahu for the good reception and welcome they and the accompanying delegation have received in the Israeli capital, Tel Aviv, as we are now taking the first steps towards achieving and establishing security and stability in the region and enabling future generations to work and take advantage of the opportunities available through These agreements. "

He added, "The final signature on protecting and encouraging investment between the UAE and the State of Israel will contribute to protecting and strengthening the investment partnership, and encouraging all governmental, semi-governmental and private sectors in the two countries to build strategic partnerships, by providing real guarantee tools for investments and protecting them from all non-commercial risks." .

It should be noted that since the signing of the historic peace treaty between the UAE and the State of Israel, the two parties have taken many steps to enhance bilateral cooperation in various vital areas of mutual interest, and there are consultations and a preliminary agreement between the two countries to start the negotiation process on an agreement to avoid double taxation on income in the near future. Urgent.

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