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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

Israel, UAE Sign Free Trade Pact into Effect

People walks past a crescent moon-shaped decoration during the Muslim holy fasting month of Ramadan, at Al-Seef in Dubai on March 26, 2023. (AFP)

Israel and the United Arab Emirates on Sunday signed a free trade pact into effect, reducing or removing tariffs on about 96% of goods traded between the nations, Israel's Foreign Ministry said.

The countries first reached the agreement last May, promising to boost bilateral trade after they normalized ties in 2020 in a US-brokered deal.

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