UAE ministers host US Treasury Secretary Mnuchin, Israeli executives in Abu Dhabi

US Treasury Secretary Steven Mnuchin, second right, with Chairman of Abu Dhabi's Economic Development Department Mohammed Ali Al Shorafa, far right, and US Ambassador to the UAE John Rakolta Jr., second left. (Twitter)

Ministers of the United Arab Emirates hosted US Treasury Secretary Steven Mnuchin and Israeli executives for a top-level meeting in Abu Dhabi on Monday, according to a government statement.

UAE Minister of State for Financial Affairs Obaid Humaid Al Tayer and Minister of Industry and Advanced Technology Sultan bin Ahmed Al Jaber welcomed the American-Israeli group, which met with senior Emirati officials and business leaders.

Read more: Open for business: How UAE-Israel peace is driving deals at breakneck speed

At the meeting, Emirati and Israeli business executives of various sectors discussed ways to strengthen trade and investment relations.

Memoranda of understanding (MoUs) were signed between UAE and Israeli companies, including between UAE company National Holding and Israeli company Fortify.

Views of Abu Dhabi, left, and Jerusalem, right. (AFP)

Views of Abu Dhabi, left, and Jerusalem, right. (AFP)

Another MoU was signed between UAE charitable organization the Ahmad bin Zayed Foundation and Israeli national institute the Yitzhak Rabin Center.

During the meeting, opportunities for cooperation following the UAE-Israel agreement were discussed.

Attendees “discussed the important role the accord plays in opening new horizons for cooperation in the region, unlocking economic potential, and generating opportunities for regional cooperation to the benefit of the region’s people,” according to a UAE government statement provided to Al Arabiya English.

Assistant to US President Donald Trump Avi Berkowitz and US Ambassador to the UAE John Rakolta Jr. were in attendance.

UAE officially adopts peace agreement

Earlier in the day, the UAE Council of Ministers, headed by Sheikh Mohammed bin Rashid, officially adopted the Israeli peace deal to normalize ties between the two countries.

The Emirati, Israeli and US flags sway in the wind at the Abu Dhabi airport at the arrival of the first-ever commercial flight from Israel to the UAE, on August 31, 2020. (AFP)

The Emirati, Israeli and US flags sway in the wind at the Abu Dhabi airport at the arrival of the first-ever commercial flight from Israel to the UAE, on August 31, 2020. (AFP)

On Thursday, the Israeli government officially approved the normalization agreement with the UAE – first announced on August 13.

The UAE is the third Arab state to normalize ties with Israel, which previously signed a peace treaty with Egypt in 1979, and with Jordan in 1994.

UAE delegation to visit Israel

An official UAE delegation will travel to Israel on Tuesday, an Emirati source told Al Arabiya English.

An Israeli delegation already visited Abu Dhabi on August 31, taking the first direct flight in history from Israel to the UAE.

White House Senior Adviser Jared Kushner and US National Security Adviser Robert O'Brien pose with members of the Israeli-American delegation before the departure to Abu Dhabi, at Ben Gurion Airport, near Tel Aviv, Israel August 31, 2020. (Reuters)

White House Senior Adviser Jared Kushner and US National Security Adviser Robert O'Brien pose with members of the Israeli-American delegation before the departure to Abu Dhabi, at Ben Gurion Airport, near Tel Aviv, Israel August 31, 2020. (Reuters)

Israeli Prime Minister Benjamin Netanyahu said last week that he invited Abu Dhabi’s Crown Prince Sheikh Mohamed bin Zayed Al Nahyan to Israel, and that the Crown Prince had extended a reciprocal invitation to the UAE capital.

The invitations were expressed during a phone call in which the two leaders discussed strengthening bilateral ties call and examined “prospects for peace” in the region.

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Last Update: Monday, 19 October 2020 KSA 21:05 - GMT 18:05
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