The economic cooperation between Israel and the UAE has faltered

news image

A report published by the "Globes" website stated, "Economic cooperation between the UAE and Israel is already faltering, while Abu Dhabi is examining the behavior of the new Israeli government.

The report indicated that Washington's suspension of the work of the "Abraham Fund", which was established to coincide with the signing of the peace agreements, prompted the UAE, in March 2021, to establish a fund to invest in Israel in the fields of energy, industry, infrastructure, space, health and others, with a value of $10 billion, but in terms of In practice, the fund has not actually been established and does not appear to be on the horizon.

The Globes report pointed out that "Dubai Ports" is awaiting developments in the Haifa port tender, and there is the issue of the Eurasian Pipeline Company (EAPC) on the agenda, as the UAE monitors the behavior of the Israeli government.

A commercial source in the UAE told "Globes" that Israel's retreat from the agreement signed by (EAPC) company with "Med Red Land Bridge" is a future deterrent for Emirati companies.

Globes had spoken last week of the anger of businessmen from two of the richest families in the Emirates, due to the cancellation of their meeting with Israeli Foreign Minister Yair Lapid during his visit to Abu Dhabi.