As part of the implementation of the recently signed agreement on the normalization of relations between Israel and the United Arab Emirates, UAE President Sheikh Khalifa Ben-Zayed al-Nahian signed a presidential order to lift the economic boycott of Israel.
The President of the Emirates, Khalifa Ben-Zayed, said after the repeal of the order that he intended to “establish bilateral cooperation between the countries, with the aim of eventually establishing bilateral relations. We lifted the boycott with the aim of expanding diplomatic and commercial cooperation with Israel.”
The new order will repeal an order from 1972 that imposes sanctions on the existence of economic ties with Israel. With its abolition, trade relations between Israel and the United Arab Emirates will be possible.
Prime Minister Benjamin Netanyahu welcomed the move and said, “I welcome the decision of the President of the United Arab Emirates, Sheikh Khalifa Ben-Zaid, to repeal the law banning products from Israel and economic contacts with Israelis. This is an important step in promoting prosperity and peace in the region.”
Foreign Minister Gabi Ashkenazi also welcomed the decision, saying that “lifting the boycott of Israel is an important step towards real peace, which will yield economic and commercial achievements for both peoples and strengthen stability in the Middle East. I welcome the historic decision of UAE President Khalifa Ben-Zaid “Nahian, and calls on other countries to follow the brave path led by the United Arab Emirates.”
Ashkenazi added that “this is also an opportunity to thank the Foreign Ministry officials who for two decades acted in secret and laid the diplomatic foundation for economic relations between Israel and the Emirates, the fruits of which we see today.”