Minister of State for Foreign Trade of the United Arab Emirates (UAE), Thani bin Ahmed Al Zeyoudi, announced on Twitter that the governments of the UAE and Israel have ratified the Comprehensive Economic Partnership Agreement (CEPA).

This free-trade agreement, which was first signed in May, will eliminate or reduce tariffs on 96 percent of goods being traded between the countries.

Non-oil UAE-Israel trade hit US$2bn in the first 9 months of 2022, up 114% from the same period in 2021. The UAE-Israel CEPA will accelerate this progress as we create opportunities in key sectors such as advanced technology, renewable energy and food security,” Al Zeyoudi added.