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Business delegation heads to UAE ahead of World Expo

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Some 250 businessmen and entrepreneurs will travel in October to Abu Dhabi and Dubai on a business mission organized by the Israel Export Institute and Bank Hapoalim.

The delegation, representing Israel’s leading hi-tech, industry, infrastructure, commerce and retail industries, will meet with senior government officials and the world’s leading investment funds.

The group will first visit Abu Dhabi, the UAE’s government and business center, before heading to Dubai, where participants will receive a tour of the world’s largest exhibition at the World Expo there and the spectacular Israeli pavilion “Into Tomorrow,” created by the Foreign Affairs Ministry. During the visit, the delegation will also tour other pavilions and meet with business people from all over the world.

The six-month World Expo that begins October 1 is expected to attract some 25 million visitors from around the world, organizers have said. Israel is approaching the event as a great opportunity to present its economic and tourism strengths to a new audience.

A man uses his mobile device next to a model of the Expo 2020 project in Dubai, United Arab Emirates (credit: REUTERS/STRINGER)

“The business delegation that departs for the UAE a year after the Abraham Accords is another stage in the partnership of joint activities between the two countries,” said Adiv Baruch, Chairman of the Israel Export Institute. “A new window of opportunity has been opened since that agreement, and the economy is changing the face of the region and will offer a diplomatic infrastructure for strengthening ties between us.”

“Bank Hapoalim has adopted an advanced strategy for the Gulf States, and the current delegation will be a groundbreaking mission in establishing ties with Abu Dhabi, which is renowned for being one of the most important centers in the world in the finance, trade and high-tech sectors,” said Bank Hapoalim CEO Dov Kotler.

“All the delegates of the mission will be invited to display their work at the International Exhibition of the EXPO Dubai, which is one of the most important global international exhibitions and will enable Israeli businesspeople to establish connections through this important platform.”

The mission is for senior officials from companies designated by the UAE as having the potential for cooperation in the area of hi-tech, including agricultural technology, energy and clean technology, fintech, food technology, health technologies, water and cyber, as well as companies in the fields of construction, industry and smart transportation.

Trade in goods between Israel and the United Arab Emirates reached about $610 million from January to July 2021, according to foreign trade data published by the Central Bureau of Statistics.

Exports totaled about $210 million, including $150m. of diamond exports. Industrial exports amounted to about $60m., three times the amount recorded in 2020, before the announcement of official relations between the two countries.

Israel’s imports from the UAE amounted to about $400 million, of which $190m. was diamond imports. Industrial imports amounted to about $210m.

There is no data available for the volume of exports for hi-tech services, which comprise a significant share of bilateral trade, the Israel Export Institute said.

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