JERUSALEM/DUBAI, May 8 (Reuters) – The war in Gaza has cooled Israeli business activity with the United Arab Emirates, with the once-celebrated relationship now conducted away from public scrutiny amid anger in the Arab world over the conflict.
The UAE became the most prominent Arab state in 30 years to establish formal ties with Israel under a U.S.-brokered agreement in 2020, dubbed the Abraham Accords. It has maintained the relationship throughout Israel’s more than six-month war in Gaza.
In the wake of the accords, Israeli entrepreneurs began flocking to the Gulf state on direct flights from Tel Aviv, establishing new business ties and expanding existing relationships that were once kept a secret. Deals announced before the war included investments in cyber security, fintech, energy and agri-tech.
Ten Israeli officials, executives and entrepreneurs told Reuters that business ties with the influential Gulf state remain intact but, in a sign of how the conflict has dented enthusiasm, they declined to discuss any recent deals.
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Source: https://www.reuters.com/world/middle-east/gaza-war-cools-israels-once-red-hot-business-ties-with-uae-2024-05-08/
