Israel and the United Arab Emirates agreed on Tuesday to set up a joint committee to cooperate on financial services, aiming to promote investment between the two countries as Israeli delegation left the Gulf state following a historic visit.
A joint Israeli and U.S. delegation was Abu Dhabi on a historic 24-hour trip to finalize a pact marking open relations between Israel and the Gulf state. The team took off for Israel at 14:15pm, once again flying through Saudi Arabia's airspace.
Hours before the delegation left, Prime Minister Benjamin Netanyahu said in the statement that representatives from both countries signed the understanding.
"I welcome the first understandings signed in Abu Dhabi. These understandings will help us promote mutual investment and extensive collaborations," Netanyahu said.
One focus, Netanyahu said, would be on "cooperation in the field of financial services and removing financial barriers for making investments between the countries, as well as promoting joint investments in the capital markets."
The countries will also collaborate in banking services and payment regulations, he said.
UAE's media office later confirmed the deal via Twitter. "Abu Dhabi Investment Office and Invest in Israel set out plans for bilateral investment cooperation, during a landmark first meeting when both parties explored mutually beneficial areas of partnership with a strong focus on innovation and technology," said the statement.
Israeli officials have been quick to play up the economic benefits of the accord, which once formalized would also include agreements on tourism, technology, energy, healthcare and security, among other areas.
A number of Israeli and Emirati businesses have already signed deals since the normalisation deal was announced.
First published: 13:32, 09.01.20