Did "Saif Al-Quds" drop the curtain on the economic honeymoon between Israel and the Emirates?

Israeli businessmen active in the Gulf, specifically in the UAE and Bahrain, complain about the cooling of relations and the decline in dealings following the Israeli aggression on the Gaza Strip and the incursion of the occupation authorities into Jerusalem and Al-Aqsa, with the continuation of the scheme to evacuate 28 Palestinian families from their homes from Sheikh Jarrah neighborhood and replace them by settlers.

At this stage, and with the return of the Palestinian-Israeli conflict to awareness in the Arab and Islamic worlds, the unprecedented public rapprochement that Israeli businessmen felt after signing the "Abraham Accords" became part of the pages of the past.

In order to overcome the aggravation of economic relations at the level of businessmen, and to adapt to the situation and developments, and in order to implement the commercial and economic agreements signed between Israel, the UAE and Bahrain, it is noted that the backstage of commercial relations, especially among businessmen, has returned to secrecy, in an indication of concerns that the “Sword of Jerusalem” operation will be established To the stage of closing the curtain on rapprochement and open economic trade exchange.

Since September 2020, Israel and the UAE have signed 8 major agreements in the fields of trade, economy and energy, as well as dozens of agreements for trade cooperation with the Federation of Israeli Manufacturers with the Emiratis and major private investment companies between the two countries, and the volume of trade exchange between the two countries is expected to reach within 3-5 years. Years, about 14 billion shekels (about 4.5 billion dollars), according to the Federation of Employers of Industry and Trade in Israel.

honeymoon

In his interview with Yedioth Ahronoth newspaper, an Israeli businessman recounted the transformations in relations and the lukewarm dealings enjoyed by Israeli businessmen with the return of the Palestinian issue to the fore, tension in Jerusalem and the war on Gaza, saying, "Before that and every time I visited Dubai, the doors were all open to me and in front of me." Other than the Israelis, during the past six months I visited the UAE 10 times on business trips, and the Emiratis saw in the Israelis a huge opportunity, and the place was very warm and they push for more cooperation.”

But as soon as the war on Gaza ended - as the Israeli businessman who visited Dubai says again - "we began to feel a chill in relations and transactions, suddenly they (businessmen from the Emirates and the Gulf) no longer had much time to hold meetings, they evaded to refrain from holding business sessions We are not welcome and they can no longer see us.”

In some cases, the relations went beyond apathy until the stage of rejection and harsh criticism, which reached the point of expulsion and the cessation of cooperation and trade exchange.

Another Israeli businessman says, "We have very close relations with the UAE, and a few days ago we had a conversation with the manager of a local company, we called him to coordinate with him and he surprised us by his response, "I don't want to meet the killers," referring to the Jews who serve in the Israeli army.

The UAE has deepened its relations with Israel in many areas, most notably the economic and military (Getty Images)

The war on Gaza

The newspaper's political affairs correspondent, Itamar Eichner, explained that Israeli businessmen believe that the atmosphere in the UAE and Bahrain has changed after the war on Gaza last May, saying, "It is not that they love Hamas, no at all, but the scenes of events in Jerusalem and Al-Aqsa shocked them and will remain firmly in their minds." ".

Eichner estimates, based on calls with businessmen and even officials in the diplomatic corps in Tel Aviv, that as long as the memory of the events is solid and continuous, it is difficult to see a quick return to the routine of work, stressing that even once it is forgotten or the page of tension is closed, it will take more time until the return is completed. To the routine of relations and trade and economic exchanges, saying, "They (the Emiratis) do not want to be seen as doing business deals with the Israelis."

Commenting on the chill in relations complained by Israeli businessmen in the UAE, Eichner quoted an Israeli diplomatic source familiar with the scenes of relations with Abu Dhabi as saying, "This is true only in terms of vision, and this is also with a very limited guarantee, it is not on the official level nor in communications Among the countries that remained solid and strong, and cases of apathy are limited to some businessmen.

joint investments

Despite the frosty relations at the level of businessmen between the two countries, they in Tel Aviv doubt the possibility of affecting the trade and economic agreements signed between Tel Aviv and Abu Dhabi within the framework of the "Abraham Agreements", and they recall the most important cooperation project between the two countries, a joint investment fund between the two countries in the amount of 10 Billions of dollars, which was launched last March, and will include all economic and commercial fields, infrastructure projects, the world of "High Tech", technology and the world of space.

The UAE has deepened its relations with Israel in many areas, including the political and military fields. The UAE and Israeli air forces participated in a joint air maneuver in Greece, for the first time and publicly, while the Emirati Group 42 company reached an agreement with the Israeli company Rafael. Working in the field of developing weapons and cyber, to market "artificial intelligence technologies".

Last May, the Israeli company Delek signed a memorandum of understanding to sell its stake in the Tamar natural gas field in the Mediterranean off the Haifa coast to the UAE company, Mubadala Petroleum, based in Abu Dhabi, for $1.1 billion.

In early June, despite the frosty relations at the level of businessmen, Tel Aviv signed a document to prevent double taxation between Israel and the UAE, and it is one of the most important annexes to the "Abraham Agreements" signed in Washington last September, as the document is an important pillar in relations Between the two countries, it provides certainty to investors and encourages investment and economic and trade cooperation.

Israelis attend an event in Dubai during the visit of the Chief Rabbi of Israel to the UAE last December (European)

economic growth

In addition, the newspaper "Maariv" reported that due to the cooling of relations at the level of businessmen in light of the Israeli attacks on Jerusalem and Gaza, the relations at the official level continued and were strengthened even during the period of the "guardian of the fences" operation launched by the occupation army on the Gaza Strip.

She pointed out that immediately after the end of the war on Gaza, and as part of the cooperation between Israel and the UAE, a global investment forum was launched in Dubai at a special conference for the "Jerusalem Post" and "Hall Times" newspapers, and the ceremonies were attended by senior officials from the two countries to discuss ways to advance the global economy. .

Maariv quoted the President of the World Zionist Congress, Ronald Lauder, as saying that "the Abraham agreements changed our language and the entire Middle East region for the better. The vast majority of Arabs and Jews in the Middle East want to live in peace."

Commenting on the commercial relations between the municipality in light of the tension, the outgoing Israeli Foreign Minister Gabi Ashkenazi said - in a statement - that the signing of the double taxation agreement with the UAE is another milestone in the peace and normalization agreement between Israel and the Department of Peace Countries in the Middle East, and the agreement reflects the commitment And the depth of relationships despite all circumstances and situations.