A customs agreement has been signed in Jerusalem between the United Arab Emirates (UAE) and Israel, enabling the UAE-Israel Comprehensive Economic Partnership Agreement (CEPA) to become effective. The UAE Ambassador to Israel, Mohamed Al Khaja, and Israel’s Minister of Foreign Affairs, Eli Cohen, signed the agreement in the presence of Prime Minister Benjamin Netanyahu. The agreement aims to facilitate mutual assistance in the proper application of customs laws, the assessment of customs and tax fees, the adjustment of customs data, and the prevention and investigation of customs violations.
The UAE-Israel CEPA is expected to significantly increase the non-oil bilateral trade volume between the two countries, offering economic benefits by lowering or eliminating tariffs on more than 96% of tariff lines and enhancing market access for exporters. The UAE has also signed CEPA agreements with other countries such as India, Indonesia, and Georgia, with the aim of boosting the national economy.