Israel and the United Arab Emirates signed a comprehensive free trade agreement Tuesday morning, the first time the Jewish state has signed such a deal with an Arab country.

Israeli Economy and Industry Minister Orna Barbiva signed the deal with the UAE Minister of Economy Abdulla bin Touq al Marri.

The deal marks the culmination of months of negotiations to hammer out the details of the comprehensive agreement, which will eliminate tariffs on 96% of trade goods and streamlines regulations for trade between the two countries.

Israeli ambassador to the United Arab Emirates, Amir Hayek, tweeted Tuesday morning that the deal was “Done”, after earlier writing that the agreement would be signed within the hour.

Tuesday’s agreement is the UAE’s second free trade deal, the first being signed with India in February.

Source: https://www.israelnationalnews.com/news/328509

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