UAE aims for $1 trillion in activity with Israel by 2031

The United Arab Emirates is seeking to grow economic ties with Israel to more than $1 trillion over the next decade, Economy Minister Abdulla Bin Touq said on Monday, strengthening a year-old relationship that’s already produced billions of dollars worth of business. Those deals include Mubadala Investment Co’s $1 billion purchase of Tel Aviv-listed Delek’s stake in an Israeli gas field, Bin Touq told a virtual conference. The UAE has also signed over 60 Mous with Israel since normalising relations, he said, and is expecting an “influx” of trade in the next two years.