MM News

DUBAI: United Arab Emirates (UAE) and Israel have signed four agreements during the first high-level visit from the Gulf state to Tel Aviv since the two countries establish official ties last month.

Emirati Finance Minister Obaid Humaid al-Tayer and several senior officials from the UAE on Tuesday were accompanied by United States Treasury Secretary Steven Mnuchin on the Etihad Airways flight from Abu Dhabi to Ben-Gurion international airport.

Speaking at a welcoming ceremony at the airport, Israeli Prime Minister Benjamin Netanyahu thanked US President Donald Trump and UAE Crown Prince Sheikh Mohammed bin Zayed Al Nahyan for their roles in sealing the normalisation deal.

Following Netanyahu’s speech, Israel and the UAE signed an agreement to promote and protect investments, a memorandum of understanding on cooperation in science and innovation, an aviation agreement and a visa-exemption agreement. The UAE became the first Arab nation to lift visa requirements for Israeli nationals.

The UAE Ministry of Foreign Affairs and International Cooperation has announced that UAE citizens will soon be able to travel to the State of Israel without the need for a visa for a maximum of 90 days per visit.

Omar Saif Ghobash, Assistant Minister for Culture and Public Diplomacy, signed on behalf of the UAE, while Shlomo Mor-Yosef, Director-General of the Population and Immigration Authority of the Ministry of Interior, signed on behalf of Israel. He underscored that the mutual visa waiver will have a positive impact on tourism, trade, investment, and other sectors, as well as strengthen cooperation between both countries.

In addition, US International Development Finance Corporation CEO Adam Boehler announced the establishment of the Abraham Fund, according to a commitment made in the normalisation agreement signed in September.

“The US International Development Finance Corporation, the UAE, and Israel will mobilise more than 3 billion dollars in private sector-led investment and development initiatives to promote regional economic cooperation and prosperity in the Middle East and beyond,” the US embassy in Israel said in a statement.

Ahmed al-Sayegh, the UAE’s minister of state, said the fund “reflects the desire of the three countries to put the wellbeing of people first, regardless of their creed or identity,” the statement added. At a White House ceremony on September 15, Bahrain and the UAE signed agreements to establish full diplomatic, cultural and commercial relations with Israel.