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

UAE, Israel Finalize Free Trade Deal

Israel UAE United States United Arab Emirates
Israeli and United Arab Emirates flags line a road in the coastal city of Netanya on August 16, 2020. (AP)

Israel and the United Arab Emirates have concluded negotiations for a free trade agreement, Israel's Economy Ministry and the UAE foreign trade minister said on Friday, after formally establishing ties in 2020.

The trade agreement includes 95% of traded products, which will be customs free, immediately or gradually, including food, agriculture and cosmetic products, as well as medical equipment and medicine, the Israeli Economy Ministry said in a statement.

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