Israel’s trade with Arab states has increased since 2020 peace accords, data shows
Trade between Israel and countries in the Middle East and North Africa has increased dramatically this year, following the normalization of the Jewish state’s ties with other Arab states, new data has revealed.
In the first seven months of 2021, trade grew 234% compared to the same period in 2020, according to Central Bureau of Statistics figures cited by Yonatan Gonen, a student at the Foreign Ministry.
Statistics showed that trade with the United Arab Emirates increased from $ 50.8 million between January and July 2020 to $ 613.9 million during the same period in 2021.
The UAE was the first of four regional states to normalize relations with Israel last year, following Egypt in 1979 and Jordan in 1994 as the only Arab countries to establish diplomatic relations with Israel.
Trade with Jordan also increased this year, from $ 136.2 million to $ 224.2 million, and trade with Egypt increased from $ 92 million to $ 122.4 million. With Morocco, trade increased from $ 14.9 million to $ 20.8 million.
According to data, trade with Bahrain was virtually non-existent in the first seven months of 2020. During the same period this year, $ 300,000 in trade was recorded.
The figures did not include trade in tourism and services.
Wow, take a look at the following data.
The extent of exchanges between #Israel and countries in the Middle East and North Africa experienced significant growth (234%) in the first seven months of 2021 compared to the same period in 2020.
The benefits of peace. pic.twitter.com/Vh9bJSmGrN
– Yonatan Gonen (@GonenYonatan) September 3, 2021
The 2020 agreements with the United Arab Emirates, Bahrain, Sudan and Morocco, also known as the “Abrahamic Accords”, broke the long-held Arab notion that there should be no normalization with Israel until it reaches a comprehensive peace agreement with the Palestinians. Palestinian leaders condemned the agreements as “a stab in the back” and “betrayal”.
Israel has already signed a series of agreements with the United Arab Emirates and Bahrain, ranging from tourism to aviation and financial services.
“Just the start,” tweeted Avi Berkowitz, a former White House official who was part of the team that negotiated the deals, referring to the new data.