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The UAE Signs Historic Trade Deal With Israel
With the limits of globalization exposed, cooperation between neighboring nations is going to be vital in the years to come.
“Today we signed a Comprehensive Economic Partnership Agreement with #Israel that builds on the strong foundations laid by the Abraham Accords,” tweeted UAE Trade Minister Thani Al Zeyoudi on May 31, 2022. “It will push the value of our non-oil bilateral trade beyond $10 billion within five years.”
“With the #UAEIsrealCEPA signed, sealed and delivered, we have written a new chapter in the history of the Middle East,” the Emirati Trade Minister continued on Twitter. “Our agreement will accelerate growth, create jobs and lead to a new era of peace, stability, and prosperity across the region.”
“Hyper-globalization is dead, killed by the rise of China, the supply chain catastrophe, the COVID pandemic, Russia’s invasion of Ukraine, and the belated recognition that ultra-free trade was mainly designed to serve financial elites.” wrote Robert Kuttner for American Prospect magazine on the same day the UAE signed its historic trade…