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Israel and the UAE signed an agreement on mutual protection of investments

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Israel and the United Arab Emirates (UAE) have signed an agreement to protect investment in each other’s economies, Reuters reports, citing statements by the finance ministers of the two countries. For Israel, this is the first such agreement with any of the Arab countries.
To date, Israel has signed 36 such agreements. They provide for the protection of foreign investors’ funds from arbitrary changes in regulation, as well as changes in the political situation in the country, and guarantee investors the right to freely withdraw funds from the country if necessary.
Most of Israel’s partners in such agreements are European countries. The latest mutual investment protection agreement was signed with Japan in 2017. The UAE, in turn, has already signed 99 such agreements.
In addition, the current agreement is the first for Israel and the UAE since the countries agreed in August to normalize relations. With the mediation of the United States, the countries agreed that they would jointly seek a solution to the Palestinian conflict, and Israel would not yet declare sovereignty over the entire West Bank.

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