Dubai signs strategic agreement with Tel Aviv to foster economic cooperation

Dubai Chamber of Commerce and Industry has signed an agreement with Tel Aviv Chamber of Commerce to explore business opportunities and strengthen bilateral cooperation.

The two sides will produce a joint study to identify sectors of mutual interest and create a roadmap of virtual events.

They will also come up with plans to host a joint business forum and support new businesses and startups.

Other aspects of the partnership will focus on programmes in areas such as research, networking, arbitration, education, training, women-in-business, sustainability and advocacy.

The agreement between the two sides is part of a broader engagement between the UAE and Israel to further peace, dialogue and stability and promote sustainable development.

It is expected to benefit the public and private sector across the Middle East region by opening the door for cross-border collaboration across economic fields.

H.E. Hamad Buamim, President & CEO of Dubai Chamber, described the agreement as an important development that will build new bridges between the two business communities and establish a framework for bilateral economic cooperation and mutually-beneficial partnerships.

"It will build cooperation for two-way trade in areas, such as high-tech, tourism, aviation, investment and real estate, and more specifically, cyber, clean-tech, irrigation, ag-tech, digital health care, and much more. Both economies will greatly benefit," said Adv. Uriel Lynn, President of the Federation of Israeli Chambers of Commerce and Tel Aviv Chamber of Commerce.

#Dubai Chamber and Tel Aviv Chamber sign agreement to foster bilateral cooperation. The agreement aims to create business opportunities for member companies in both markets and the wider regionhttps://t.co/DgFUtLHfqB pic.twitter.com/1MoYjYQQ4t

— Dubai Media Office (@DXBMediaOffice) September 24, 2020