Following the announcement of the peace treaty between the two sides, the President of the United Arab Emirates, Khalifa bin Zayed Al Nahyan, issued a decree of a law abolishing the boycott of Israel and its penalties.
According to the local press, in the wake of the abolition of the Israel Boycott Law for individuals and companies in the Emirates, agreements can be concluded with bodies or individuals residing in Israel, belonging to it by their nationality, or working for it or for its benefit wherever they are, on the commercial level, financial operations, or any other deal of whatever nature.
It will also be permitted to enter, exchange or possess Israeli goods, goods and products of all kinds in the country, and trade in them.
On the 13th of this month, Abu Dhabi and Tel Aviv announced the establishment of full diplomatic relations between them, according to a joint statement issued by Israeli Prime Minister Benjamin Netanyahu, UAE Crown Prince Mohammed bin Zayed Al Nahyan and US President Donald Trump.
Under the agreement, the UAE and Israel will exchange ambassadors and cooperate in various fields, including security, education and health.
Trump said that the signing ceremony for this normalization agreement is expected to take place at the White House in a few weeks.
For its part, the Palestinian Authority declared that the agreement "torpedoed the Arab Peace Initiative" and described it as "a betrayal of Jerusalem and Al-Aqsa and the decisions of the Arab and Islamic summits and international legitimacy, and an aggression against the Palestinian people."