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JERUSALEM, Could 30 (Reuters) – Israel and the United Arab Emirates (UAE) will signal a free commerce settlement in Dubai on Tuesday in a transfer geared toward boosting commerce between the 2 nations, Israel’s Financial system Ministry mentioned on Monday.
The ministry mentioned customs duties might be eradicated on 96% of merchandise, together with meals, agriculture, cosmetics, medical tools and medication, and consists of regulation, customs, providers and authorities procurement.
The UAE and Israel formally established relations in 2020 as a part of the U.S.-brokered Abraham Accords that additionally included Bahrain and Morocco. The commerce deal is Israel’s first with an Arab nation. (Reporting by Steven Scheer; Enhancing by Toby Chopra)
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