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UAE-Israel trade deal to be signed next year: Envoy

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The talks between Israel and the United Arab Emirates for a robust trade deal are advancing successfully and a signing ceremony will be held next year.

This was disclosed by Israel’s new ambassador to the UAE, Amir Hayek, while talking to the state news agency.

Hayek said that the Comprehensive Economic Partnership Agreement (CEPA) will be signed within the nine-month timeframe.

During the interview, he said that the sky is the limit in relations with the UAE, adding that the CEPA is vital for enhancing the bilateral trade ties.

Hayek’s interview comes as the Federation of Israeli Chambers of Commerce has projected that trade between the UAE and Israel could surge to $1.5 billion by the end of this year. The FICC sees this trade volume at over $5 billion within two to three years.

In the meantime, the president of the UAE-Israel Business Council said that the number of Israeli companies operating in the UAE is expected to double within a year.

In July, Dorian Barak, who is also the founder of Indigo Strategic Partners, said that he expects over 1,000 Israeli companies to be active in the UAE by next July. He said the coronavirus pandemic could be the only hurdle in enhancing bilateral economic ties.

Meanwhile, the UAE’s Economy Minister Abdulla Bin Touq has said that his country is seeking to grow economic ties with Israel to more than $1 trillion over the next decade.

Speaking at a virtual conference from the US, he said that the UAE has signed over 60 memorandums of understanding (MoUs) with Israel since normalising relations in 2020.

He added that currently, the UAE and Israel are engaged in up to $700 million dollars of bilateral trade and both sides have already announced joint funds of billions of dollars.

Earlier this month, the UAE also announced plans to strengthen its trade ties with the fast-growing economies in Asia and Africa.

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Abu Dhabi warns public about fraudulent SMS and iMessage phishing scams

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Abu Dhabi Customs has issued a warning to the public about fraudulent SMS and iMessage messages circulating that impersonate the authority and well-known shipping companies in an attempt to steal personal information.

According to the authority, scammers are sending messages that appear legitimate, often claiming there is a shipment issue, customs fee, or a request to update delivery details. These messages usually include malicious links designed to trick recipients into providing sensitive information such as personal data, banking details, or login credentials.

Abu Dhabi Customs urged the public not to interact with these messages or open any links, stressing that fraudsters sometimes use phone numbers or names that falsely suggest they are associated with official entities to gain people’s trust.

The authority advised customers to avoid sharing personal information with unknown parties and to rely only on official channels to access services, track shipments, or obtain customs-related information.

Abu Dhabi Customs also reaffirmed its commitment to maintaining high cybersecurity standards and protecting customer data, noting that it works with relevant authorities to monitor and address digital fraud attempts.

Members of the public are encouraged to report any suspicious messages impersonating Abu Dhabi Customs through official channels, helping authorities raise community awareness and reduce phishing attempts.

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Dubai: 24/7 truck movement permit extended until March 22

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Dubai’s Roads and Transport Authority (RTA), in coordination with Dubai Police, has extended the 24-hour truck movement permit across the emirate until the evening of Sunday, March 22.

The move allows trucks to use most roads in Dubai around the clock to support the logistics sector and ensure smooth supply chain operations across the city.

In a statement, the RTA said the decision aims to facilitate the movement of goods and maintain efficient delivery services, particularly during periods of increased logistical demand.

However, the authority clarified that the Airport Tunnel and Al Shindagha Tunnel are excluded from the decision. Traffic restrictions will remain in place in these locations to ensure road safety and maintain smooth traffic flow.

Officials said the temporary measure is intended to help transport operators maintain efficient distribution networks while minimising disruptions across the emirate’s road network.

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UAE says onion, tomato price hikes temporary as market monitoring intensifies

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Food items such as onions and tomatoes have seen price increases in recent days. Still, the UAE Ministry of Economy and Tourism has said the rise is temporary and linked to the ongoing regional crisis.

The ministry confirmed that additional quantities of these commodities have already been supplied to markets to stabilise supply and help prices return to normal levels soon.

Officials stressed that there is no cause for concern regarding the availability of essential goods, noting that markets across the UAE continue to have sufficient stock and multiple alternatives available to consumers.

Increased market inspections

To maintain price stability, the ministry has intensified monitoring efforts at points of sale across the country. Specialised inspection teams are conducting daily field inspections in coordination with economic development departments in all emirates.

The inspections aim to prevent unjustified price increases and ensure compliance with consumer protection laws and pricing policies.

Essential goods under price regulation

Authorities highlighted that strict pricing policies apply to nine key essential commodities, including:

  • Cooking oil
  • Eggs
  • Dairy products
  • Rice
  • Sugar
  • Poultry
  • Legumes
  • Bread
  • Wheat

Retailers cannot increase the prices of these goods without prior approval from the ministry and the national committee responsible for regulating essential commodity prices.

Strategic food reserves

The ministry also confirmed that the UAE maintains a strategic stockpile of essential goods sufficient to cover market demand for up to six months.

Officials said the reserves are distributed across the country through a carefully planned system, ensuring efficient supply chains and quick responses to market needs.

Shipping and supply operations are continuing normally through all entry points, helping maintain a steady flow of goods to local markets.

Minister inspects Al Aweer market

Meanwhile, Abdulla bin Touq Al Marri, Minister of Economy and Tourism and Chairman of the Supreme Committee for Consumer Protection, conducted a field inspection at the Al Aweer Central Fruit and Vegetable Market in Dubai.

During the visit, he toured retail outlets, wholesale stores, and commercial shops to ensure compliance with consumer protection laws and price transparency.

The minister stressed that any compromise on food availability or consumer rights is a red line, adding that authorities will take strict legal action against violations or unfair commercial practices.

He also confirmed that daily imports of fruits and vegetables at Al Aweer market remain normal, reflecting the UAE’s strong supply chains and the readiness of its strategic food reserves.

Thousands of inspections conducted

Since the start of the regional crisis, the ministry has conducted more than 7,100 inspection campaigns across markets nationwide.

These inspections resulted in:

  • 567 violations detected, mainly related to unjustified price increases
  • 449 warnings issued to traders and suppliers
  • Fines totalling Dh207,250 imposed

Authorities said monitoring campaigns will continue to intensify in the coming period to maintain market stability and protect consumers.

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