30 September, 2020
Bilateral Economic Cooperation Agreement between Dubai and Tel Aviv
Dubai Chamber of Commerce & Industry and the Tel Aviv Chamber of Commerce entered into an economic cooperation agreement to boost business and trade between UAE & Israel.
Following the recent Government order to politically engage in peace and bilateral relations with Israel, the countries of UAE & Israel have been looking at mutually beneficial economic steps in the direction. Strategic partnerships to boost businesses, promotion of sustainable development, and bringing stability in both the countries have been on top of the priority list of late.
In this regard, the Dubai Chamber of Commerce & Industry entered into an economic cooperation agreement with the Tel Aviv Chamber of Commerce, represented by the Federation of Israeli Chambers of Commerce. Under this agreement, the countries will jointly produce a study that identifies business sectors of economic interest; gauge the sectors where synergy will be harbored; identify & develop a roadmap for virtual events; organize mutual visits and business delegations; jointly host a business forum; support new businesses, scalable businesses and startups with all available programmes and resources.
The President and CEO of Dubai Chamber, Hamad Buamim, added that this move will help formulate an economic and business framework that focuses on the bilateral economic relationship and foster mutual development.
Under the partnership, other aspects include the current activities and programmes of the chamber such as mediation, training, education, research, networking, arbitration, best practices, women-in-business, sustainability, and advocacy.