Abu Dhabi skyline
Abu Dhabi skylineiStock

Israel plans to open an economic attaché office in Abu Dhabi this summer to attract foreign investment and boost economic relations with Gulf states and the broader Arab world, the Economy Ministry said on Tuesday, according to Reuters.

The opening of the office follows the US-brokered normalization of ties between Israel and the United Arab Emirates (UAE) last September.

On Monday, an Emirati embassy opened in Tel Aviv while Israel's Finance Ministry said Israel and the United Arab Emirates signed a tax treaty to spur business development between the countries. read more

Economy Minister Amir Peretz said he saw "enormous economic potential" in strengthening Israeli-Emirati relations.

"Opening the economic attaché office will give a significant boost to the various initiatives already underway," he said.

The Economy Ministry said that Aviad Tamir will be the economic attaché in the UAE.

Since the signing of the Abraham Accords between Israel and the UAE, the two countries signed a series of agreements.

In April, the two countries signed a Memorandum of Understanding on health cooperation. The main points of the MoU agree that the countries will promote cooperation on health issues, including the common fight against global pandemics, cyber security and data protection, medical training, digital health, artificial intelligence, innovation, technology integration, personalized medicine, and public health.

Last month, the National Archives (NA) of the United Arab Emirates in Abu Dhabi and the National Library of Israel (NLI) in Jerusalem signed an historic Memorandum of Understanding, which "commits the two organizations to work together in support of mutual and separate goals and for the benefit of the international cultural and documentary heritage sector."