UAE and Israel sign customs agreement to activate CEPA and strengthen economic cooperation
H.E. Mohamed Al Khaja, Ambassador of the United Arab Emirates to the State of Israel, and H.E. Eli Cohen, Minister of Foreign Affairs of Israel, signed a customs agreement between the two countries in the presence of Israeli Prime Minister H.E. Benjamin Netanyahu at the Prime Minister’s office in Jerusalem.
The signing of the customs agreement will allow the UAE-Israel Comprehensive Economic Partnership Agreement (CEPA), signed in May 2022, to enter into force.
Commenting on the occasion, H.E. Mohamed Al Khaja remarked: "The Comprehensive Economic Partnership Agreement between the UAE and Israel will serve as a major engine to strengthen economic and commercial ties between the UAE and Israel. We expect the agreement to produce significant mutual economic benefits.”
The Customs agreement aims to enable mutual assistance in ensuring the proper application of customs laws, accurately assessing customs and other tax fees on exports and imports, adjusting customs data, and preventing and investigating customs violations.
In 2022, the non-oil bilateral trade volume between the UAE and Israel reached over USD 2.5 billion. With the CEPA entering into force, the UAE and Israel expect the trade volume between the two countries to increase significantly.
Related News
Joint statement by Foreign ministers of UAE, Jordan, Türkiye, Egypt, Indonesia, Pakistan, Saudi Arabia, Qatar
The Foreign Ministers of the United Arab Emirates, the Hashemite Kingdom of Jordan, the Republic of Türkiye, the Arab Republic of Egypt
View Details
UAE Affirms Embrace of Iranian Community as Integral to Its Diverse Social Fabric
The Ministry of Foreign Affairs (MoFA) has issued a statement affirming that the UAE is home to a respected and valued Iranian community that forms an integral part of its social fabric and contributes to its diversity and openness.
View Details
UAE Expresses Solidarity with Pakistan and Offers Condolences over Flood Victims
The United Arab Emirates has expressed its solidarity with the Islamic Republic of Pakistan over the victims of floods and landslides caused by heavy rainfall in the Bannu district of Khyber Pakhtunkhwa province, which resulted in a number of deaths and injuries.
View Details
UAE Expresses Solidarity with Afghanistan and Offers Condolences over Flood Victims
The United Arab Emirates has expressed its solidarity with Afghanistan over the victims of floods and landslides caused by heavy rainfall that affected several regions, which resulted in a number of deaths and injuries.
View Details