The Abu Dhabi Investment Office has signed a cooperation agreement with the Israel Export Institute, the agency concerned with promoting commercial activities in Israel.
The signing took place during a virtual meeting held yesterday with the participation of Adiv Baruch, Chairman of the Board of Directors of the Israel Export Institute, Gadi Arieli, Director General of the Institute, and Dr. Tariq bin Hindi, Director General of the Abu Dhabi Investment Office.
The agreement paves the way for the start of trade exchange between Abu Dhabi and Israel by enhancing investment cooperation opportunities. It also includes facilitating communication between investee companies in both markets, hosting joint events, and supporting government and business delegations.
The Abu Dhabi Investment Office will work closely with the Israel Export Institute to enrich the investment and commercial opportunities available to Israeli companies, and provide them with strategic partnerships and resources to ensure the long-term success of their business in Abu Dhabi.
Mohammed Al-Shurafa, head of the Department of Economic Development in Abu Dhabi, said: We are witnessing rapid developments in laying the foundations for close cooperation at the level of the private sector in Abu Dhabi and Israel. The agreement represents an important opportunity towards enhancing trade and technical cooperation between the two parties.
Dr. Tariq bin Hindi, Director General of the Abu Dhabi Investment Office, said: We are keen to establish strong relationships between the various parties concerned with facilitating investment and innovation in Abu Dhabi and Israel. The agreement with the Israel Export Institute comes as a quantum leap towards accelerating cooperation opportunities between companies in Abu Dhabi and Israel.
With support from member companies, private sector institutions, and the Israeli government, the institute promotes economic and commercial activities through export-related services to Israeli companies, and additional services to the international business community. It also contributes to building joint ventures, strategic alliances and successful partnerships.
Amir Peretz, Minister of Economy and Industry in Israel, said: Signing the agreement with the Abu Dhabi Investment Office comes as another step towards strengthening economic relations with Abu Dhabi in particular, and the UAE in general.
The agreement has special importance, especially during this stage in which the world is facing the “Covid 19” epidemic, which has had repercussions on the Israeli economy. And I hope that the relationship with the UAE will give more impetus to the Israeli economy at this difficult time.
Adiv Baruch said: The agreement is an extension of the joint efforts aimed at strengthening cooperation between the two countries, and we are confident that it will achieve tangible positive results for all parties, and we are pleased to move forward on this promising path.
The institute, with the support of the Foreign Trade Department of the Ministry of Economy and the Israeli Ministry of Foreign Affairs, will continue to work on laying the infrastructure supportive of economic cooperation between the UAE and Israel. There is no doubt that cooperation with the Abu Dhabi Investment Office will play a fundamental role in strengthening relations between the two parties.
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