DUBAI, United Arab Emirates (AP) — The Israeli and Dubai diamond exchanges have announced a deal to boost trade. Thursday’s deal came just days after Israel and the United Arab Emirates signed a breakthrough agreement at the White House to normalize their relations. With the U.S.-brokered diplomatic deal, the UAE and Israel are taking their quiet economic ties public for the first time. The UAE announced the end of its boycott of Israel last month, allowing commerce between the oil-rich Emirates and Israel to flow. Israel, once the world’s largest diamond trading center, remains a major leader in the polishing of large diamonds. Dubai is a regional financial hub and also hosts an emerging diamond trade.
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September 17, 2020 at 05:31PM
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Israeli and Dubai diamond exchanges sign trade agreement - WBNG-TV
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