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Economy

Dubai, Israel trade reaches $272 mln since normalization deal: Statement

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The trade between Dubai and Israel has reached 1 billion dirham ($272 million) over the last five months, the Dubai media office said on Saturday.

Israel and the United Arab Emirates agreed in August to normalize diplomatic relations.

The amount includes around 325 million dirham of imports and 607 million dirham of exports, the media office said in a statement.

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In September, Israeli Intelligence Minister Eli Cohen told Israel’s Reshet Bet radio station that Annual trade between Israel and the United Arab Emirates is expected to reach $4 billion.

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