The President of the United Arab Emirates, His Highness Sheikh Khalifa bin Zayed Al Nahyan, issued a decree abolishing the federal law regarding boycotting Israel and the penalties resulting from it, following the announcement of the peace treaty with Israel.

According to the Emirates News Agency (WAM), the decree of the new law is part of the UAE’s efforts to expand diplomatic and commercial cooperation with Israel, by laying out a roadmap towards launching joint cooperation, leading to bilateral relations by stimulating economic growth and enhancing technological innovation.

Following the abolition of the Israel Boycott Law, for individuals and companies in the state, agreements can be concluded with bodies or individuals residing in Israel or belonging to it by their nationality or working for it or for its benefit wherever they are, in terms of commercial, financial operations, or any other transaction of whatever nature.
It will also be permitted to enter, exchange or possess Israeli goods, goods and products of all kinds in the country and trade in the