UAE issues decree to formally end Israel boycott law allowing economic agreements

United Arab of Emirates (UAE) on August 29 reportedly issued a decree to formally end its boycott of Israel in a bid to allow tre and financial agreement between two countries. According to international media reports, decree from UAE President Khalifa bin Zayed Al Nahyan aims at supporting bilateral cooperation in order to arrive at establishment of bilateral relations amid US-brokered peace deal to rmalise relations. decree comes as part of UAE’s efforts to expand diplomatic and commercial cooperation with Israel. 

As per reports, latest anuncement also comes as El Al Airlines plans to operate Israel’s first direct flight between Tel Aviv’s Ben Gurion Airport and UAE’s capital Abu Dhabi, carrying an Israeli delegation and top aides to US President Donald Trump. White House Senior viser Jared Kushner will reportedly be among US officials on flight, which is set to depart on August 31. 

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decree reportedly re that following abolition of Israel Boycott Law, individuals and companies in UAE may enter into agreements with bodies or individuals residing in Israel or belonging to it by ir nationality, in terms of commercial, financial operations or any or dealings of any nature. According to decree, it will be permissible to enter, exchange or possess Israeli goods and products of all kinds in UAE and tre in m. 

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‘Full rmalisation’ between UAE and Israel 

Saturday’s developments are a part of ‘historic agreement’ between two countries. On August 13, Israel and United Arab Emirates along with US released a joint statement that US President Donald Trump, Israeli PM Benjamin Netanyahu, and Abu Dhabi Crown Prince Sheikh Mohammed Bin Zayed agreed to 'full rmalisation’ of relations between UAE and Israel. 

Meanwhile, two countries also plan to immediately expand and accelerate cooperation regarding treatment of and developments of a vaccine for coronavirus. As part of agreement, Israel will suspend annexation of Palestinian lands in occupied West Bank, while it focuses on expanding ties with or Arab countries with or nations in Muslim world. 

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