UAE NEWS: Sheikh Khalifa bin Zayed announces abolition of Israeli boycott law

His Highness Sheikh Khalifa Bin Zayed Al Nahyan

ABU DHABI: Following the announcement of a peace treaty with Israel, His Excellency Sheikh Khalifa bin Zayed Al Nahyan, issued the Federal Decree – Law No. 04 of 2020, repealing Federal Law No. 15 of 1972 in connection with the boycott of Israel and its sanctions.

The proclamation comes as part of the UAE’s efforts to increase diplomatic and trade cooperation with Israel, and to lay the groundwork for the introduction of co-operation, leading to bilateral relations by promoting economic growth and promoting technological innovation.

Following the abolition of Israel Boycott Law, individuals and companies in the UAE may enter into agreements with bodies or persons residing in or belonging to Israel in terms of their nationality, in terms of business, financial performance, or any other cooperation of any kind.

Depending on the decision, it will be allowed to import, exchange or manage Israeli goods and products of all kinds in the UAE and trade in them.

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