Reuters and Algemeiner Staff
Algemeiner – 29 August ‘2.020
The municipality building is lit in the United Arab Emirates national flag following the announcement of a deal to normalize relations between Israel and the United Arab Emirates, in Tel Aviv, Israel August 13, 2020. Photo: REUTERS/Ammar Awad
The president of the United Arab Emirates scrapped an economic boycott against Israel, allowing trade and financial agreements between the countries in another key step towards normal ties, the UAE’s state news agency reported on Saturday.
Israel and the UAE said on Aug. 13 they would normalize diplomatic relations in a deal brokered by US President Donald Trump that reshapes the order of Middle East politics from the Palestinian issue to the fight against Iran.
President Khalifa bin Zayed Al Nahyan issued a decree abolishing a boycott law as part of “the UAE’s efforts to expand diplomatic and commercial cooperation with Israel, leading to bilateral relations by stimulating economic growth and promoting technological innovation,” the WAM news agency said.
The announcement came as Israeli flag carrier El Al Israel Airlines Ltd <ELAL.TA> prepared to operate the country’s first direct flight between Tel Aviv’s Ben Gurion Airport and the UAE’s capital, Abu Dhabi.