Dubai FDI signs MoU with Israeli manufacturers

DUBAI: The Dubai Investment Development Agency (Dubai FDI) has signed an agreement with the Manufacturers’ Association of Israel (MAI) to explore collaborations for promoting of cross-border business and investment opportunities.

According to the Dubai Economy Department, the MoU between Dubai FDI and MAI would help boost business and investment ties between the two countries, while it would also help to establish a mutually-beneficial and collaborative relationship to support potential business links as well as investment and promotional activities.

The agreement came on the heels of the historic Abraham Accord signed between the United Arab Emirates (UAE) and Israel. The annual trade between the two countries is expected to reach more than $3.8 billion within three to five years. The Emirate of Dubai has already concluded trade deals valued at more than $272 million with Israel in five months, following the accords between September 2020 and January 2021.