UAE, Israel issue joint statement highlighting next steps

Both UAE and Israel said that they're continuing to work on a Comprehensive Economic Partnership Agreement to enhance trade between the two countries.

That's according to a joint statement issued after Israeli Prime Minister Naftali Bennett made an official visit to the UAE.

A partnership agreement will promote trade by offering incentives to dealers, creating new investment opportunities, and mutually raising the trade value between two countries.

UAE and Israel previously held official talks to develop such an agreement.

In addition to the economic collaboration, the leaders discussed a variety of economic and civic issues in which there has been significant progress in the past year, including private and public sector cooperation in R&D, technology, food security, climate, water, energy, environment, health and tourism.

A joint development fund was also announced to tackle climate change and desertification. Commercialising solutions to these challenges are in the works.

These deals are being built on the foundations of interfaith tolerance and the increased development of ties between residents of the two countries.