His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the State, issued a decree by Federal Law No. 4 of 2020 abolishing Federal Law No. 15 of 1972 regarding boycotting Israel and its penalties, following the announcement of the peace treaty with Israel.
The decree of the new law comes within the UAE’s efforts to expand diplomatic and commercial cooperation with Israel, and by laying out a roadmap towards launching joint cooperation, leading to bilateral relations by stimulating economic growth and promoting technological innovation.
Following the abolition of the Israel Boycott Law, for individuals and companies in the state, agreements can be concluded with bodies or individuals residing in Israel, belonging to it by their nationality, or working for it or for its benefit wherever they are, on the commercial level, financial operations, or any other deal of whatever nature.
It will also be permitted to enter, exchange or possess Israeli goods, goods and products of all kinds in the country and trade in them.
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