DUBAI, United Arab Emirates -- The ruler of the United Arab Emirates issued a decree Saturday formally ending the country's boycott of Israel amid a U.S.-brokered deal to normalize relations between the two countries.
The announcement now allows trade and commerce between the UAE, home to oil-rich Abu Dhabi and skyscraper-studded Dubai, and Israel, home to a thriving diamond trade, pharmaceutical companies and tech start-ups.
The announcement further cements the Aug 13 deal opening up relations between the two nations, which required Israel to halt its contentious plan to annex occupied West Bank land sought by the Palestinians.
The state-run WAM news agency said the decree formally ending the boycott came on the orders of Sheikh Khalifa bin Zayed Al Nahyan, the ruler of Abu Dhabi and the Emirates' leader.
WAM said the new decree allows Israelis and Israeli firms to do business in the UAE, a federation of seven sheikhdoms on the Arabian Peninsula. It also allows for the purchase and trade of Israeli goods.
“The decree of the new law comes within the UAE’s efforts to expand diplomatic and commercial cooperation with Israel,” WAM said. It lays out “a roadmap toward launching joint cooperation, leading to bilateral relations by stimulating economic growth and promoting technological innovation.”
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