The bilateral trade ties between Israel and the UAE is getting stronger as investors from both the nations are bolstering their efforts for new developments, media reports said. It is reported that the value of investment from both the nations is expected to touch the $10 billion mark within a short period of time.
Jon Medved, CEO of Israel’s investment platform OurCrowd, told the media, “The normalisation of relations between the UAE and Israel following the signing of the peace agreement, known as Abraham Accord, would be “an unbelievable game-changer” in the two-way investment sphere. The real activity is happening in the private sector as there is a lot of enthusiasm on both sides. I dare say over $10 bilateral of bilateral investment action will be happening both ways,” Medved, one of Israel’s most active venture capital investors. The UAE investors coming into the Israeli tech market are among the most sophisticated in the world, likewise hi-tech Israeli investors going to the Emirates.”
Currently, Israel, the US and the UAE are planning to establish a joint investment fund worth $ 3 billion in Jerusalem, as these nations are gearing up to bolster relationships and ramp up regional economic development.
OurCrowd which manages over $1.5 billion in committed funds is an equity crowdfunding platform. The platform has 8,0000 investors under its portfolio. Furthermore, the platform seeks to collaborate with Phoenix, a UAE-based company to improve tech ties and take bilateral business to the next level. Phoenix will assist Israel-based startups with potential partners in the Middle East.