UAE and Israel look at business ties after milestone peace accord and historic flight

Bilateral trade could be worth up to $4bn a year

Senior White House adviser Jared Kushner, centre right, and the US National Security Adviser Robert O'Brien, centre left, pose for a photo with UAE Air Force's Maj Gen Falah Al Qahtani,, and other officials at Al Dhafra airbase in Abu Dhabi. Reuters

Senior White House adviser Jared Kushner at Louvre Abu Dhabi. Twitter/ @USAinUAE

Senior adviser to the US president Jared Kushner being shown a replica of the Abrahamic Family House at Louvre Abu Dhabi. Twitter/ @USAinUAE

Senior advisor to the US president Jared Kushner at Sheikh Zayed Grand Mosque in Abu Dhabi. Twitter/ @USAinUAE

Israeli National Security Adviser Meir Ben-Shabbat greets an Emirati official as he makes his way to board the plane to leave Abu Dhabi. EPA

White House senior adviser Jared Kushner and US National Security Adviser Robert O'Brien during a visit to Al Dhafra airbase in Abu Dhabi. Reuters

Senior advisor to the US president Jared Kushner at Sheikh Zayed Grand Mosque in Abu Dhabi. Twitter/ @USAinUAE

Senior White House adviser Jared Kushner, UAE Minister of State for Foreign Affairs Dr Anwar Gargash and head of Israel's National Security Council Meir Ben-Shabbat. Twitter/ @USAinUAE

Israeli National Security Adviser Meir Ben-Shabbat, Senior White House adviser Jared Kushner and Minister of State for Foreign Affairs Anwar Gargash hold a meeting in Abu Dhabi. Reuters

Senior White House adviser Jared Kushner, right, with Israeli National Security Adviser Meir Ben-Shabbat, left, arrive in the UAE on the first commercial flight between Israel and the UAE. Victor Besa / The National

Senior White House adviser Jared Kushner speaks as US National Security Adviser Robert O'Brien looks on. Victor Besa / The National

Israeli National Security Adviser Meir Ben-Shabbat, centre, and US National Security Adviser Robert O'Brien, on the tarmac after disembarking from the El Al flight. Victor Besa / The National

Head of Israel's National Security Council Meir Ben-Shabbat delivers a speech upon his arrival. AFP

US National Security Adviser Robert O'Brien delivers a speech upon arrival in Abu Dhabi. Victor Besa / The National

US National Security Adviser Robert O'Brien, right, delivers a speech as Israeli National Security Adviser Meir Ben-Shabbat and White House adviser Jared Kushner look on. Victor Besa / The National

US-Israeli delegation led by White House adviser Jared Kushner arrive in Abu Dhabi on the first commercial flight between Israel and the UAE. Victor Besa / The National

Senior White House adviser Jared Kushner, US National Security Adviser Robert O'Brien and Israeli National Security Adviser Meir Ben-Shabbat disembark a plane after landing at Abu Dhabi International Airport. Reuters

US and Israeli flags at Abu Dhabi airport. Victor Besa / The National

A UAE official waits for Israeli and US delegates to disembark the Israeli flag carrier El Al's airliner after landing at Abu Dhabi International Airport. Reuters

Senior White House adviserJared Kushner and US National Security Adviser Robert O’Brien speak to the media in an El Al airplane. AFP

Reporters, Israeli and US delegates travelling on an Israeli El Al airliner prepare to disembark on arrival in Abu Dhabi. AP

Israeli National Security Adviser Meir Ben-Shabbat, US National Security Adviser Robert O'Brien and US President's senior adviser Jared Kushner are seated during Israeli flag carrier El Al's flight LY971, from Tel Aviv to Abu Dhabi. EPA

An official greeting message is seen on the Israeli carrier El Al airliner carrying Israeli and US delegates during their flight to Abu Dhabi. Reuters

The Israeli flag carrier El Al's airliner lands at Abu Dhabi International Airport. Victor Besa / The National

The Israeli flag carrier El Al's airliner lands at Abu Dhabi International Airport. Victor Besa / The National

The Israeli flag carrier El Al's airliner approaches to land in Abu Dhabi. Reuters

A view of the scenery through the window of Israeli flag carrier El Al's flight LY971, as it is approaching for landing at the airport of Abu Dhabi. EPA

Senior White House adviser Jared Kushner, left, Israel's National Security Adviser Meir Ben-Shabbat, right, and US National Security Adviser Robert O'Brien, board the El Al flight to Abu Dhabi. EPA

The US-Israel delegation board the plane. EPA

Senior White House adviser Jared Kushner and US National Security Adviser Robert O'Brien pose with members of the US-Israel delegation before boarding the El Al's flight. AP

Senior White House adviser Jared Kushner, right, looks on as US National Security Adviser Robert O'Brien speaks before boarding the El Al's flight. AP

The Arabic, English and Hebrew word for 'Peace' is seen on the Israeli flag carrier El Al's airliner which carried Israel-US delegations to meet Emirati leadership in Abu Dhabi. AP

A seat covering says 'Making History' in Arabic, English and Hebrew. Reuters

A flight crew member stands in front of the El Al jet. AP

Flight crew hold a meeting before the historic flight. Reuters

A pilot goes through pre-flight checks. Reuters

Screens displaying flight number LY971 to Abu Dhabi at Tel Aviv airport. Reuters

Screens displaying flight number LY971 to Abu Dhabi at Tel Aviv airport. Reuters

The UAE and Israel hit another milestone on Monday as the first commercial flight between Israel and the UAE landed in Abu Dhabi after an agreement to normalise relations between them.

The historic El Al flight carried advisers of US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu to the UAE to begin talks on details of the Abraham Accord.

Mr Trump’s senior adviser and son-in-law Jared Kushner, who has taken a leading role in Washington’s Middle East strategy and was on the flight, arrived in Israel on Sunday.

It is hoped that the visit will be an opportunity for businesses from the two heavyweight economies to begin forming ties.

The UAE ranks fifth in the world for GDP purchasing power parity per capita at $74,000 and Israel ranks 35th at $39,000.

Economically, there is much for both nations to gain. Israel’s Channel 13 said bilateral trade could initially be worth $4 billion (Dh14.69bn) a year, a figure it said could soon be tripled or quadrupled.

Officials from the UAE and Israel also said they were looking to co-operate in defence, medicine, tourism and technology.

Dr Anwar Gargash, UAE Minister of State for Foreign Affairs, said last week that the UAE would benefit from the “technological prowess of Israelis in certain areas, and they will benefit from the dynamic nature of the UAE economy”.

The UAE is able to invest in innovative projects and Israel is home to some of the region’s most compelling start-up companies, including freelancer booking app Fiverr, while advertising platform Outbrain also has an office there.

Israeli Agriculture Minister Alon Schuster said Israel was working on joint projects that could help to improve UAE’s food security, such as water desalination and crop cultivation in the desert.

"With their money and our experience, we could go a long way," Mr Schuster said last Friday.

Israeli Regional Co-operation Minister Ofir Akunis said Israel was looking at co-operation in defence, medicine, agriculture, tourism and technology.

"We are talking about commercial deals worth $500 million in the initial stages and this will keep rising all the time," Mr Akunis said.

There could also be deals to revive the travel industry after the coronavirus and the damage it wrought on airlines, hotels and tourist attractions.

Almost half of Israelis travelled abroad in 2017, The Jerusalem Post reported, and it is common for young Israelis to spend time abroad at the end of their military service.

The UAE is well set to receive an audience curious about the Arab world, having been a window into the region for many western visitors for years.

In 2019, the country hosted more than 27 million hotel guests, the Federal Competitiveness and Statistics Authority found.

Israel also holds interest for Emiratis and residents. Although it has lower tourist numbers, it welcomed more than 4.5 million visitors in 2019.