#Israel aims to cooperate with UAE on business opportunities in tech

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Israeli Prime Minister Benjamin Netanyahu
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Israel signaled that it is willing to explore business opportunities with the United Arab Emirates following the normalization of relations established last week, including in the areas of commercial space and hi-tech, a report on Monday said.

“The timelines are quite immediate,” Israel’s Minister for Science and Technology Izhar Shay said in an interview on Bloomberg TV. “We now want to leverage those existing relationships and take them to the next steps.”

The two countries, which had quiet ties in place, are set to expand them after President Trump last week announced a peace agreement that would pave the way for full normalization of relations.

The UAE joins Egypt and Jordan as the only Arab countries with diplomatic ties to Israel.

Shay said Israel is “aware of a good number of potential investors” in high-tech, agro-tech and artificial intelligence. “We very much look forward to seeing involvement of Emirati investors in the Israeli economy.”

He said the infrastructure exists for the “sharing of know-how and mutual efforts, so we already are aware of a good number of efforts on the various commercial fronts that can take both nations into mutual developments and cooperation.”

“Over here we do want to use our existing experience in sharing this vast amount of intellectual property with our new friends in the Emirates,” Shay said.