Between the United Arab Emirates and Israel, a year of relationship and billions of dollars
Bahraini and UAE Foreign Ministers with Donald Trump and Benyamin Netanyahu at the White House, September 15, 2020 during the signing of the “Abraham Accords”.
REUTERS / Tom Brenner
Text by: RFI Follow
4 min
A year ago to the day, on September 15, 2020, Israel normalized its relations with two Gulf countries: the United Arab Emirates and Bahrain.
But far from regional geopolitical considerations, the wealthy Gulf state hopes above all to extract billions from its new diplomatic ties.
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One year after this
event, described as historic
, and which foreshadowed significant economic benefits for the new partners, the results are not yet forthcoming.
Israeli companies are well on their way to conquering the Emirati market.
There is also $ 500 million in trade between the Hebrew state and the Emirates, but investors from the Gulf are long overdue in Israel.
“
There are more connections towards the emirates than the other way from a tourist point of view or otherwise.
The level of development of the two countries is very different.
Israel offers the Emirates its technology, its know-how, and the Emirates offer their money,
”explains Jacques Bendelac, economist and social science researcher in Jerusalem, at the microphone of our correspondent in Jerusalem,
Sami Boukhelifa
.
►
To read: The “Abraham Agreements”: a turning point for the Middle East?
Trade in goods which tends to develop
The basis of exchange is not really equal between the two countries.
For the moment, more projects are developing in the Emirates rather than investments or cooperation initiated by the Emirates in Israel.
“
Already today, in 2021, trade in goods between the two countries exceeds the trade that Israel has with Egypt and Jordan, the two countries together,”
specifies Jacques Bendelac
.
So it's still numbers that are starting to get in shape and that will end up developing quite significantly over time.
"
An independent agreement on the resolution of the Palestinian question
It was at the instigation of the United States of former President Donald Trump that the Emirates, joined by their Gulf neighbor, Bahrain, signed the so-called Abrahamic accords with the Jewish state on September 15, 2020. in Washington,
the Palestinians
accusing them of "
treason
". Especially since the decision of the Emirates was not linked to the need to end the war, as was the case for
Egypt
and
Jordan
, the first two Arab countries to have recognized Israel respectively in 1979 and 1994. .
The Abrahamic accords broke with decades of Arab consensus ruling out the establishment of official ties without resolving the Palestinian question, beginning with the end of the illegal occupation of their territories by the Jewish state.
However, they paved the way for similar initiatives, with Morocco and Sudan, in return for political advantages granted to them by the Americans.
The first Arab economy, Saudi Arabia, has, however, rejected any recognition of Israel without a settlement of the conflict with the Palestinians.
The inauguration of embassies and consulates
The United Arab Emirates, embarked on decades of diversifying the economy, relying less and less on oil, has signed a series of agreements with Israel ranging from tourism and aviation to financial services.
Israeli Foreign Minister Yair Lapid paid an unprecedented visit to the Emirates in July, inaugurating
an embassy in Abu Dhabi
, the capital, and a consulate in Dubai, with Emirati officials doing the same in
Tel Aviv
.
"
After one year of the Abrahamic accords, we have a story to tell,
" UAE Minister of Economy Abdullah bin Touq Al-Marri said on Monday (September 13th) at a roundtable organized by the Atlantic. Council, an American think tank.
A strategic agreement
“
We exchanged ambassadors.
We have signed over 60 memoranda of understanding.
We have $ 600 million to $ 700 million in bilateral trade.
We have multi-billion dollar funds that have been announced,
”said the UAE official.
According to him, the two countries seek to develop relations which could reach "
more than trillion dollars of economic activity during the next decade
".
The Emirates are also hoping to be able to ship oil to Europe via an Israeli pipeline.
A project undermined by environmental activists who fear significant damage to coral reefs in the Red Sea.
According to this official, relations have not been affected, however, Abraham's agreements being dictated by considerations of "
national interest for the Emirati government as well as for the Israeli government
".
“
For us, it's really strategic,
” he insisted, pointing out that around 200,000 Israelis had visited the United Arab Emirates in the past year, and that around 40 companies from his country had already settled there.
(
With
AFP)
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United Arab Emirates
Israel
Diplomacy