Key Takeaways
- The Abraham Accords were signed on September 15, 2020, between Israel, the United Arab Emirates, and Bahrain, with Morocco and Sudan joining shortly thereafter.
- The UAE and Bahrain became the first Arab countries to formally recognize Israel since Jordan in 1994.
- The Abraham Accords represented the first formal normalization of Arab-Israeli diplomatic relations since Israel's 1994 peace treaty with Jordan and the 1979 Egypt-Israel agreement following negotiations at Camp David.
- Trade between Israel and Arab countries of the Middle East grew by 234 percent in the first seven months of 2021 compared to the same period in 2020, even excluding tourism and services.
- Trade between Israel and the UAE increased from $50.8 million in the first seven months of 2020 to $613.9 million in the first seven months of 2021.
- Total trade between Israel and the Abraham Accords countries increased from $593 million in 2019 to $3.47 billion in 2022.
- By 2023, more than 1 million Israelis had visited the UAE, supported by 106 weekly direct flights.
- Only about 1,600 Emiratis had traveled to Israel since normalization as of 2023, and this figure dropped even further after October 7, 2023.
- In 2022, approximately 2,700 Israelis visited Bahrain versus 400 Bahrainis visiting Israel.
- Israel's defense exports in 2024 reached a record $14.8 billion, with Abraham Accords countries accounting for 12% of exports — up from just 3% in 2023.
- In 2024 alone, signatories of the Accords accounted for 12 percent of Israel's nearly $15 billion in arms exports.
- Arab states accounted for 24% of Israel's $12.5 billion in defense exports in the year prior to 2023.
- The UAE earmarked a $10 billion investment fund in Israel focused on strategic industries including energy, water, space, healthcare, agri-tech, AI, and blockchain, announced following a March call between Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed and Israeli PM Netanyahu.
- In November 2021, OurCrowd Arabia became the first Israeli venture capital firm to receive a license from the Abu Dhabi Global Market (ADGM), making it the first-ever Israeli VC to obtain licensed status with ADGM.
- OurCrowd had received over $1.8 billion in commitments and had deployed capital into more than 280 portfolio companies and 30 funds across five continents as of 2021.
Normalization deals dramatically boosted trade and diplomatic ties between Israel and Arab states.
Defense & Security Cooperation
Defense & Security Cooperation Interpretation
Diplomatic & Political Milestones
Diplomatic & Political Milestones Interpretation
Public Opinion & Social Impact
Public Opinion & Social Impact Interpretation
Technology & Innovation
Technology & Innovation Interpretation
Tourism & People-to-People Ties
Tourism & People-to-People Ties Interpretation
Trade & Economic Impact
Trade & Economic Impact Interpretation
Sources & References
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