A US-brokered deal
After Egypt and Jordan, the UAE became the third Arab country to formally normalize its relationship with Israel. The US was at the forefront in establishing the agreement between the two countries.
Both the countries have been maintaining a warm relationship which until now did not have any official diplomatic or trade relations. Prior to this, the UAE like many other Arab countries has had an economic boycott on Israel. However, cooperation between the two countries started developing which is often aided by Washington.
The agreement so established is an official recognition of the diplomatic ties between the two countries. It also formally abolished the UAEs 40-year-old- boycott law, thereby allowing UAE companies and individuals to trade directly with Israel.
Announcing the consensus reached the US, UAE and Israel in a joint statement said this would push for a more stable, integrated, and prosperous Middle East, whilst it has also led to the suspension of Israel’s plans to extend its sovereignty in the West Bank.
The agreement is christened as the Abraham Accord in honour of Abraham, the patriarch of the three major Abrahamic religions of the world—Judaism, Islam and Christianity. It is expected that the peace accord will be signed in the White House in September.
Factors leading to the Agreement
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