Almost two years have passed since the historic announcement of the signing of the Abraham Accords between UAE and Israel on September 15, 2020. While the treaty is celebrated as a major political breakthrough, besides yielding impressive economic and strategic advances as witnessed in the cooperative economic, social, and technological dividends already reaped by the Accords, it has certainly produced a substantial shift in US policy in the region. The following offers an overarching reflection on the progress across high-impact trajectories enacted in bilateral to show how this partnership has been fortified so that the normalization maintains momentum and produces maximum potential.
Overall, the Abraham Accords symbolize a major shift in Middle Eastern geopolitics and have produced a substantial shift in US policy. It has granted U.S. diplomacy the opportunity to advance a more cooperative Middle East. Realizing its value, the Biden Administration not only has embraced the accords but has drawn on the UAE-Israel partnership to foster broader, more sustainable Arab-Israeli peace and cooperation. The economic impact boosts regional socio-economic growth especially as countries across the Middle East increasingly look to diversify their investments, generate job opportunities, and raise standards of living for their people.
The Abraham Accords implementation process remains the strongest. It has rendered substantial various MOUs and policy outcomes and security and military cooperation. Since the Abraham Accords were signed, the reported volume of trade between Emirates and Israel has reached about $2.5 billion. At the World Economic Forum’s annual meeting last May, UAE’s Minister of State for Foreign Trade Thani Al Zeyoudi commented on the impact of
UAE-Israel normalization, “Usually, the economy and the growth are always associated with peace and stability.”
The noteworthy partnership is the Comprehensive Economic Partnership Agreement (CEPA) which was recently signed between the UAE and Israel on May 3, 2022. Indeed, it does not only cement the Accords but signals the unique perspective on the economic landscapes of both countries and capitalizes on the massive opportunities of economic and technological advancements.
Parallel to trade, Emirati and Israeli intensified cooperation in the increasingly compelling economics of renewable energy which is one of the major fields of interest and of paramount importance since both nations are in a region that is extremely prone to the harsh impact of climate change. As UAE steadfastly moves beyond an oil-dependent economy, renewables are consistent with the UAE’s broader goals of sustainable modernization and
diversification.
There have been several ambitious partnerships and major UAE investments such as Abu Dhabi Investment Authority (ADIA) and the Mubadala Investment Company in Israeli companies to improve technologies for the development of green energy and diversify its power generation mix.
Yet, the Abraham Accords are beyond the political dynamics and the burgeoning economic/trade realms. With its strategic vision and realistic view of the future, UAE diplomacy charted a new era of a more stabilized, peaceful, and prosperous region. Such a vision has evolved into a more tangible reality. A reality that does not only aim at achieving geopolitical and economic benefits for both countries but is generating a positive broader
societal impact regionally.
Guided by the Founding Father Sheikh Zayed’s foundational values of tolerance, peace, and stability, the UAE diplomatic realm, leveraged the capacity for interfaith and intercultural dialogue to advance a culture of respect, tolerance, and coexistence between the societies of the three Abrahamic religions and all humanity. The UAE remains strongly
committed to cultivating the energy of communities and people-to-people engagement through various initiatives such as interfaith, cross-cultural dialogue, youth, academic partnerships, and scientific exchange programs.
Throughout 2021-2022, we have witnessed vigorous bilateral initiatives, sustainable, community-led projects, and industry enthusiasts across sectors within the private sector and civil society providing talent with new ventures to excel and enabling them to work together to address regional and global urgent challenges such as climate change, biodiversity conservation, energy, cybersecurity, extremism, and education. As a result, there is a regional
common ground for collaboration vertically and horizontally to maximize the best possible gains for the states and people.
Indeed, UAE-Israel Abraham Accords have been creating opportunities as much as it has been warding off barriers and challenges. Seeing the positive outcomes and accomplishments in bringing more security and prosperity to the region and the people living here has been inspiring and waiting for more. The future of the Abraham Accords is quite bright and will continue to be a pillar and benchmark for more bilateral and multilateral cooperation for the sake of peace, tolerance, and mutual benefit.
