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AlwaysFree: Israel, UAE Establish New Bilateral Trade Route

Author: SSESSMENTS

MSC Paris was among the first cargo ships to sail from the United Arab Emirates to Israel. The ship brought eight containers of cleaning supplies, iron, electronics, and firefighting equipment loaded in Dubai’s Jebel Ali port to Israeli port city of Haifa. A few months ago such a voyage would be unthinkable. However, both nations agreed to normalise relationships in August, in an event that can be called as a diplomatic breakthrough in the Middle East.

Israel and Sunni-led gulf Arab nations share mutual threat from Iran, which may explain the strategic realignment. However, the normalisation also provides potential collaborations in investment, business, and technology. UAE-Israel bilateral trade is estimated to reach $4 billion a year, with nearly all products will have to travel by sea.

An MSC spokesman said it was the first time for one of its ships to carry containers originating in the UAE and discharged them in Haifa. Haifa Port’s board chairman Eshel Armony said the shipments marked a new era in the Middle East. Meanwhile, Israeli Prime Minister Benjamin Netanyahu said trade with the UAE will benefit Israelis by providing cheap goods.

Tags: All Products,AlwaysFree,English,Middle East,UAE

Published on October 13, 2020 12:20 PM (GMT+8)
Last Updated on October 13, 2020 12:20 PM (GMT+8)