The United Arab Emirates has announced it will be investing $10 billion (approx £7 billion) in what is to bulster trade between the two nations.

The decision came following what the UAE said was a “constructive” phone call between the Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed and Israel’s Prime Minister Benjamin Netanyahu.

The UAE said:

Following a constructive phone call His Highness Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has received from Benjamin Netanyahu, Prime Minister of the State of Israel, the United Arab Emirates has announced the establishment of a $10 billion (Dh36 billion) fund aimed at strategic sectors in Israel.

Through this fund, the UAE will invest in and alongside Israel across sectors including energy, manufacturing, water, space, healthcare and agri-tech. The investment fund will support development initiatives to promote regional economic cooperation between the two countries. Fund allocations will derive from government and private sector institutions.

The fund builds on the historic Abraham Accord and aims to bolster economic ties between two of the region’s thriving economies, unlocking investments and partnership opportunities to drive socio-economic progress.

This initiative is an integral part of the historic peace accord signed by the UAE and Israel with the United States’ support, and demonstrates the benefits of peace by improving the lives of the region’s peoples. It is a manifestation of the new spirit of friendship and cooperation between the three countries, as well their common will to advance the region.

Subscribe to start receiving FREE TORCH magazines from CUFI UK

Related Articles:

The UN’s latest actions show it is no longer hiding its antisemitic hatred of Israel

We have long been speaking out against the United Nations for their blatant bias against Israel. However, things are now worse than ever before. There is no hiding the fact...

New poll reveals ‘emergency crisis’ for UK’s future generation’s support for Israel

A majority of Britain’s young people do not believe that Israel should exist, according to a latest poll. Conducted by Focaldata for UnHerd, a worrying 54% of 18-24 year olds agree with...

Pro-Israel supporters show up for Israel: 40,000 in London, 100,000 in New York

Records were broken when pro-Israel supporters took to the streets in London and New York calling for the release of the 125 hostages still held by Hamas in Gaza and to show their...

King George’s D-Day call to pray “continuously” inspired nations around the world to turn to God

On 6 June 1944, King George VI addressed the nations in a speech that was broadcast throughout the world. Naming countries of the Empire and our other Allies, including the United...

Rafah lies prove the world needs little evidence to demonise Israel

This week, we once again witnessed how the lies of Hamas helped to fuel a campaign of hatred against Israel that reach global proportions. The world needs little excuse to become...