UAE - Mubasher: Abu Dhabi Ports has entered a Memorandum of Understanding (MoU) with the Manufacturers Association of Israel (MAI) to foster trade, investment, and technology cooperation between the UAE and Israel.
Under the agreement, Abu Dhabi Ports’ subsidiaries KIZAD and ZonesCorp and the MAI will explore ways to expand trade, investment, and technological development and enhance research and development (R&D) and innovation, according to a recent press release.
In addition, Abu Dhabi Ports and MAI, the representative body of Israel's industrial sector, will study means for the exchange of trade missions.
This agreement is the first of its kind to be signed by Abu Dhabi Ports with an Israeli trade organisation since the peace agreement between the UAE and Israel was reached in Washington DC in September.
Commenting on the agreement, the Group CEO of Abu Dhabi Ports, Mohamed Juma Al Shamisi, said: "Through Abu Dhabi Ports, KIZAD and ZonesCorp act as a catalyst for business by opening the door to more than 100 markets through the UAE’s Free Trade and bilateral agreements for Israeli manufacturers."
The President of the MAI, Ron Tomer, commented: "We plan to continue in this important path and promote cooperation between Israeli industry and high-tech to the business sector in the UAE, and create new areas of trade that will open the economy, employment, and society between the two nations, and beyond."
