About one year ago during a broadcast interview with i24 News, I was asked what my thoughts were on the Abrahamic Accord between UAE and Israel. At the time as with any new affair, there was anticipation, excitement, and curiosity for how things will start moving into action. I saw this as a great opportunity and an achievement that further embraces the economical and ambiguous vision of the great leaders of UAE. I believed that this move would strengthen the trade and business relations, not just between UAE and Israel, but other countries as well. Now, two years later we get a closer look between anticipated ambition and today’s reality.
From the beginning, the founders of UAE had embraced this visionary disruption with a strategic focus for the future that continues to evolve through the present-day leaders, allowing the UAE to create buzz on a larger geopolitical scheme. So, how does all this tie into the Abrahamic Accords and where are we two years later?
Visionary Disruption
If there is one thing that I admire most the leaders of UAE for, is the constant ambiguity towards their vision of where they want to be as a people and a country. Vision has always been the core strength of this nation, proving to the world that impossible can be made possible. The main components that constantly drive this vision is the support and initiatives from the leadership towards socio-economic reforms, pioneering specific projects such as the “UAE Centennial 2071” and the “Projects of the 50” aiming to ensure economic stability and growth for its people now and future generations to come.
Strategic Focus
As important as it is to be vision driven, it’s the action plan that follows along. The UAE has been very ambitious in the last years to establish stronger diplomatic ties and break out of certain political isolation. The Abrahamic Accord plays a major strategy in strengthening that vision and we have already seen and experienced some of its impact. According to AJC and Elcano Royal Institute Report, the UAE-Israeli commercial exchanges has recorded its annual bilateral trade reaching USD$1.2 billion in 2021.Moreover, the economic exchanges between the two countries are expected to exceed USD$10 billion within the next five years. This is in accordance with the growth fueled by the Comprehensive Economic Partnership Agreement signed in Dubai by the Emirati and Israeli Ministers of Economy in May 2022. This marks a historic milestone for UAE as it continues to gain trust and a favorable reputation amongst global policy speculations and economic cooperation.
Economic Impact
The Abrahamic Accord brought a sense of normalization to diplomatic ties between UAE and Israel creating a positive influence for the economy allowing it to flourish. Trade and investment deals are booming, especially in key industries such as advanced weapons systems, artificial intelligence, renewable energy, smart farming, and cyber capabilities. The transfer of technologies and the launching of joint projects to develop state-of-the-art solutions has nurtured mutual trust between the UAE and Israel.
After two years of speculations, I am confident to say that the ambitions we’ve had since the beginning and the actions taken so far are still aligning. There is still a long way to go to reach the full potential and realization of the grand vision. However, I have no doubt that the leaders and people of UAE will reach there. As I’ve stated previously and stating it now, this decision is a long-term commitment with long-term effects, and it will continue to play a positive role in the expansion of the geopolitical economy.
