Israel is an economic powerhouse and is known worldwide for its technological prowess, medical innovation, and business acumen with a strong focus on commodities such as precious stones and metals. Whilst many Israeli businesses still plan their growth focused on Western markets like the United States, there is a huge, and growing, opportunity on Israel’s doorstep to the East.
Dubai can be your gateway to the global marketplace. In the past 10 years, Dubai’s economic clout has soared due to the government’s drive for modernity, business facilitation, and global interconnectivity. Today 65% of the world’s GDP is within an easy 8-hour flight from Dubai. Israeli companies also gain tremendous benefit from the free trade agreement signed by the UAE and Israel which goes into effect this weekend and is expected to advance bilateral trade beyond US$10 billion within five years.
The Abraham Accords was a watershed event for our region. In Dubai, we have witnessed a steady growth of Israeli companies of all sizes and sectors. But it is only the start. Given the similarities between the UAE and Israel markets it is hardly surprising that bilateral business collaborations are also growing. As more and more Israelis use Dubai as their launch pad to grow their businesses, they are increasingly realizing the potential of leveraging Dubai as the crossroads between the Middle East, Asia, Africa and Europe, from which products can be shipped to and from anywhere in the world within 45 days.
As the largest Free Trade Zone in Dubai, DMCC offers unparalleled opportunities for companies to grow and network. As a trade hub offering some of the best trade connectivity to the region and the world, DMCC acts as a gateway to the Gulf, offering Israeli businesses the opportunity to expand throughout the GCC, including to countries that do not currently have formalized relationships with Israel. With 23,000+ businesses representing 180 countries that are all already in the community, Israeli businesses can take office space, and relocate employees comfortably and efficiently to establish a business presence quickly and easily in order to focus on international trade right away.
The Abraham Accords are a concretization of the UAE’s desire to see Israel’s full participation in the global economy, to partner and drive mutual economic prosperity. As our region becomes more connected and plays a larger role in that global market, I believe that Dubai is the key Israeli entrepreneurs and business owners need to unlock the potential to do business truly on a global scale. Our doors are open. The global marketplace is waiting for you.