September marks the second anniversary of the Abraham Accords under which Israel signed normalization agreements with the United Arab Emirates and Bahrain, followed shortly by Morocco.
These historic accords have “been transformational for Israel, the United Arab Emirates, Bahrain, and Morocco,” declared Secretary of State Antony Blinken. “They have led to new forms of cooperation and regional integration in the Middle East and beyond, including the historic Negev Forum, which brought us together with Israel and its neighbors.”
In a recent editorial in the Jerusalem Post, United Arab Emirates, or UAE, minister of state for foreign trade Thani Al Zeyoudi wrote, that the signing of the Abraham Accords “signaled not simply the end of 48 years of hostility and distrust but the beginning of a new political and economic era for our region.”
Since the signing of the accords, the value of bilateral trade between United Arab Emirates and Israel has exceeded $3 billion, while trade in the first half of 2022 has now outstripped the $1.3 billion recorded in the whole of 2021, according to foreign trade minister Zeyoudi.
The accords have also brought about unique joint agreements aimed at solving the challenges facing the broader Middle East such as water shortages and renewable energy. A case in point is the recent three-way agreement between Israel, UAE, and Jordan, which will finance a solar energy effort.
Avi Hasson, CEO of Start-Up Nation Central, a non-profit organization that promotes Israeli innovation around the world, said the Abraham Accords have “unleashed great opportunity and potential for our region.” He added, “We have shifted the dialogue from defense and security to innovation and collaboration.”
According to Mr. Hasson, trade and investment between Israel and the countries that signed the Abraham Accords will double in 2023 with innovation and technology as key components.
“We are committed to advancing and expanding upon these agreements between Israel and Arab and Muslim-majority countries to enhance regional security, prosperity, and peace,” declared Secretary Blinken. “The United States looks forward to helping strengthen and deepen these partnerships in the years to come.”