Abu Dhabi Chamber signs economic cooperation agreement with Federation of Israeli Chambers of Commerce
The Abu Dhabi Chamber of Commerce and Industry has signed a cooperation agreement with the Federation of the Israeli Chambers of Commerce during a virtual meeting to increase trade cooperation in a number of business related sectors.
According to the agreement, both sides will jointly work to extend bridges of cooperation in a number of pivotal investment sectors including tourism, technologies, agriculture, medicine and digital professions. The agreement will contribute to increasing investment opportunities before businesses in both countries and thus, increasing trade delegations as well as the organization of virtual economic events, which will serve the business communities of both sides and help coordinate the joint efforts in promoting regional trade. Both sides will also conduct economic studies about the markets of the region and explore the partnerships that might form a basis for trade cooperation between the different and promising economic sectors in both Abu Dhabi and Tel Aviv.
During the virtual meeting, His Excellency Mohammed Thani Al Rumaithi, Chairman of the Abu Dhabi Chamber, said that the Chamber is completely ready to provide all the necessary services to support the joint cooperation between the two sides in all sectors and on all levels, especially after signing the historic peace treaty with Israel. “This which will boost economic cooperation and investment partnerships between the two countries, considering them as prominent economic powers in the Middle East,” he said.
Adv. Uriel Lynn, President of the Federation of the Israeli Chambers of Commerce noted that, “The agreement with Abu Dhabi’s Chamber of Commerce, the largest and leading Emirate in the UAE ,is a significant millstone in the ongoing developing relationship between both parties. This import step paves the way for additional collaborations in various sectors. It is also a great opportunity to launch a platform for Israeli export to the Indian subcontinent and Southeast Asia, which holds a third of the world's population and is only a 4 hour flight away from Abu Dhabi".
Lynn emphasized, "Although both Israel and the United Arab Emirates are small-population countries, their partnership could set an example to other world economies on how to upgrade their standard of living by correctly allocating national resources.”
The Abu Dhabi Chamber is the official representative of the private sector in the Emirate of Abu Dhabi with more than 100,000 member companies.
By signing the new agreement with Tel Aviv Chamber, both sides will work towards increasing business opportunities for the private sector; providing the necessary tools to attract regional and international investments; exchanging experiences; and offering the necessary training programs to boost the capabilities of their members in doing business.
About The Federation of Israeli Chambers Of Commerce FICC -
The FICC was founded in 1919 as an independent and non-profit entity. It is the leading economic organization representing the trade and service sector, the largest and most influential industry in Israel. The FICC serves as roof organization to over thousands businesses operating across various divisions that represent 240 industries and include various economic branches, importers, exporters, service providers, wholesalers, retailers, and financial and business services. The FICC has created a powerful and pivotal network for businesses both locally and abroad, providing its members with an effective professional support system