Two weeks after the announcement of the "Abraham Agreement", to normalize relations between the United Arab Emirates and Israel, businessmen and leading figures from the UAE, Israel and Europe have launched a joint body, called the United Arab Emirates-Israel Business Council, to help promote and develop cooperation, trade and services between the UAE and Israel.
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The body includes leading Israeli businesspeople, most of whom hold dual citizenship, who have gained significant experience in conducting business activities in the UAE and the Gulf, and who seek to help facilitate communication between the two sides in the early stages of the normalization process. The founders of the forum emphasize that they are not interested in involving politics in their activities.
Thani al-Shirawi, a member of a prominent UAE family with businesses spanning the oil, gas, logistics, services, and ancillary products sectors, and a founding member of the council's board, told Israel Hayom that the council's goal is to bring together UAE companies and Israeli companies to strengthen normalization and financial ties. "There are companies from the UAE that will be interested in understanding the Israeli market and building relationships there," says Al-Shirawi. "The trade ties between the two countries will benefit both sides. I assume the collaboration will start small and grow over time. We look at the Israeli economy as a strong one. Personally, I would love to come to Israel and learn from your experience in managing various companies and industries. We can learn from Israel or invest in the Israeli market. We view Israeli achievements, especially in the IT field, in a very positive way. Large high-tech companies, including American ones, perceive the UAE as a global IT hub, also because of the low operating costs of operating companies there. Dubai is a gateway to the Gulf and the entire Middle East."
Dorian Barak, an Israeli-American fund manager and venture capitalist, who over the past decade managed funds active in Israel, Dubai, and Abu Dhabi with Chinese backing, emphasized that the idea behind launching the council is to establish a body for Israelis already active in the Gulf region or who want to develop such activity, and to connect them with business people in the Gulf who are interested in working with Israelis. He added that "Just as Israel is one of the largest high-tech centers in the world, with marvelous innovation capabilities, the UAE holds a very special place in the world of global trade." "Dubai is in many ways the economic capital of the Arab world, of South Asia and of East Africa. It is one of the four greatest business hubs in the world, where people put aside disagreements and prefer personal connections."
According to Barak, "There are already Israeli technologies in the Gulf. Israelis have a lot to gain from cooperating with the UAE: to develop activities from there toward Asian markets, and we have a lot to learn from the UAE in human capital and logistics management. These are two leading countries in the region, small countries with relatively small populations. It creates a very special synergy between us. I believe that the attempt to create peace between Israel and the Arabs, from the top-down, from the leadership to the people, is destined for failure, and we have already seen this in relation to several Arab countries. The way to build trust, coexistence, and a better future in which we help each other is based on personal ties. Trade and culture are the best ways to create these ties."
"This is the reason why we have chosen people who understand the reality in the UAE and in Israel for the Council's management," emphasizes Mirna Micheletto, an Italian businesswoman who has been working in the Gulf for the past 20 years. "People who understand the need to build trust first, as opposed to the traditional Israeli way of doing business through 'pushing for immediate action,' which usually does not yield any results and can even lead to misunderstandings and disappointments. We, people who know the Gulf and support Israel, will work to turn the shortcut approach into a stable and long-term business approach. We want to promote business and not advance political agendas. This principle is important to both parties. We believe that the only way to promote dialogue is through business and not through political agendas. '
Barak's co-founder on the Israeli side is Fleur Hassan-Nahoum, Jerusalem's Deputy Mayor for Foreign Relations, International Economic Development, and Tourism. Hassan-Nahoum added that she "envisions the diverse and Arabic-speaking population of East Jerusalem becoming a natural bridge between Israel and the Gulf states that could act as a resource center back-office to Israel's growing business relations with the Gulf."
"In my experience, Israelis have a kind of a transactional approach to business'" Barak adds. "In the UAE, this culture doesn't work. Business relationships are based on personal trust. Most businesses are family businesses, which have to rely upon a bedrock of loyalty and trust. We offer a smoother and more efficient information exchange and networking platform. There is sensitivity in doing business with the Gulf countries."
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