Israeli Prime Minister Benjamin Netanyahu said on Tuesday that his country had signed its first cooperation agreement with the United Arab Emirates (UAE) in the areas of banking and finance.
The announcement comes almost three weeks after the two countries sealed a historic diplomatic deal.
On Monday, the first direct commercial flight between Israel and the UAE landed in Abu Dhabi, carrying a delegation from the United States and Israel.
“I welcome the first understandings signed in Abu Dhabi,” Netanyahu said.
“These understandings will help us advance mutual investments and extensive cooperation. We will soon announce additional agreements in the fields of aviation, tourism, trade and more.”
According to the statement, a joint Israeli-UAE committee will be set up to promote cooperation in finance and investments.
The committee is set to discuss investments between the two countries as well as joint investments in capital markets.
It will also discuss collaboration in banking services and payment regulation.
On Aug. 13, Israel and the UAE announced a United States-brokered agreement to establish diplomatic ties in return for Israel suspending a controversial plan to annex parts of the occupied West Bank.
The deal makes the UAE the first Gulf country to have diplomatic links with Israel.
There has been widespread speculation about whether other Arab nations will follow suit.
Egypt and Jordan have peace treaties with Israel.
On Saturday, the UAE’s ruler, President Khalifa Al-Nahyan, issued a decree ending a law on the boycott of Israel.
Edited By: Fatima Sule/Ali Baba-Inuwa (NAN)
