Annual trade between Israel and the United Arab Emirates is expected to reach $4 billion, an Israeli minister said on Monday.

Israel and the UAE announced in August they would normalise diplomatic relations in a deal brokered by Washington.

The UAE has since announced it was scrapping an economic boycott on Israel and officials from the two countries have said they were looking at cooperation in defence, energy, medicine, tourism, technology and financial investment.

A number of Israeli and Emirati businesses have signed deals since the normalisation accord was announced.

“Within three to five years trade between Israel and the United Arab Emirates will reach $4 billion,” Israeli Intelligence Minister Eli Cohen told Israel’s Reshet Bet radio station.

Read the full story at JPost

16 Month Scripture Calendar

Related Articles:

Nikki Haley and CUFI make Israel solidarity mission

Pastor John Hagee, founder and chairman of Christians United for Israel, his wife Diana and CUFI leadership team from the US visited Israel this week on a special solidarity mission.They...

3 Israeli-Arab men charged over Jaffa firebombing that seriously hurt boy during riots

Two men were charged with attempted murder and one man as an accomplice in connection with several firebomb attacks in Jaffa last month, including one that left a 12-year-old...

Anti-Semitism ‘mainstreamed’ in Western European politics new study finds

A new Israeli study into anti-Semitism with European politics shows how both the far-right and far-left are influencing mainstream politics with their hatred of Jews and how...

Poll shows surge in support for Hamas amongst Palestinians

A new poll released Tuesday finds a dramatic surge in Palestinian support for Hamas following last month’s Gaza conflict, with around three-quarters viewing the Islamist...

UK: Anti-Semitism on display at London anti-Israel protest

An anti-Israel demo took place in central London on Saturday in which former Labour leader Jeremy Corbyn told thousands of pro-Palestinian protesters that Britain should stop trade with...