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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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UAE official denies reports of worker visa cancellations amid regional tensions

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The UAE has rejected reports claiming it is cancelling workers’ residency visas or providing financial facilities to Iran, calling the claims false and part of what it described as a wider media campaign.

Dr Anwar Mohammed Gargash, Diplomatic Adviser to the UAE President, said on Wednesday that the country remains focused on managing regional developments and preparing for the next phase rather than being distracted by misinformation.

In a post on X, Gargash said some platforms were circulating what he described as false information about the UAE while authorities continued to focus on developments on the ground.

He specifically dismissed rumours about the cancellation of workers’ residency visas and alleged financial support for Iran, saying the claims were incorrect.

Gargash said the UAE’s response to such reports would be through “work and achievements on the ground”, arguing that verifiable facts and tangible results were stronger than rumours.

His comments come amid heightened regional tensions and a wave of unverified claims circulating online. The UAE official urged attention to facts and concrete developments rather than what he described as media noise.


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New Dubai bridge linking Emirates Road to Al Qudra Road now open

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Motorists can now use a new bridge connecting Emirates Road to Al Qudra Road, as Dubai’s Roads and Transport Authority (RTA) continues work to improve traffic movement along the corridor.

The newly opened bridge provides a direct connection for vehicles travelling from Emirates Road towards Al Qudra Road, helping improve access to the surrounding areas and ease traffic movement.

The opening is part of ongoing enhancement works on Al Qudra Road aimed at improving the efficiency of Dubai’s road network and supporting growing traffic demand.

The RTA said the latest improvement is expected to help reduce congestion and provide smoother, more efficient journeys for motorists.

Further road development works along the Al Qudra corridor are continuing as part of Dubai’s wider efforts to strengthen connectivity and keep pace with the emirate’s urban expansion.


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UAE motorists warned of road closures in Abu Dhabi, Sharjah this week

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Motorists in Abu Dhabi and Sharjah should plan this week, with authorities announcing temporary road closures for maintenance and infrastructure works.

Abu Dhabi: E22 to close overnight

Abu Dhabi Mobility will close the E22 Abu Dhabi–Al Ain Road towards Abu Dhabi on the nights of August 19, 20 and 21.

The closure will be in effect from midnight until 6am each night.

Drivers are advised to plan their journeys around the overnight closure and follow traffic signs and approved diversions in the affected area.

Sharjah: Three-day road closure

Meanwhile, Sharjah Roads and Transport Authority has announced a three-day closure on a section of road running from Sheikh Mohammed bin Sultan Bu Alian Square to Saeed bin Obaid Al-Jarwan Square, on the Al-Jazat side.

The closure will run from Wednesday to Friday as authorities carry out road maintenance and infrastructure development works.

Motorists have been advised to use approved alternative routes, follow diversion signs and comply with traffic safety instructions.

Drivers travelling through either emirate are encouraged to allow extra time for their journeys and check road conditions before setting out.


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