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The UAE just invested $100m in Israel’s tech sector as the two countries grow closer

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The UAE just invested $100m in Israel’s tech sector as the two countries grow closer

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A major sovereign wealth fund in the United Arab Emirates has invested around $100 million in venture capital firms in Israel’s tech sector, according to people familiar with the investments, a further sign of deepening trade and investment ties between countries at the forefront of the Abraham Accords.

A year and a half after the agreement that normalized diplomatic relations between Israel and the United Arab Emirates, business is booming, with trade between the two countries expected to reach $2 billion this year, from around $250 million a year before the agreements, according to the UAE. -Israel Business Council, a business body representing 6,000 Emirati and Israeli businessmen.

The UAE just invested $100m in Israel’s tech sector as the two countries grow closer

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