WASHINGTON, Aug 13 (Reuters) - Israel and the United Arab Emirates reached a historic peace deal on Thursday that will lead to a full normalization of diplomatic relations between the two Middle Eastern nations in an agreement that U.S. President Donald Trump helped broker.

Under the agreement, Israel has agreed to suspend applying sovereignty to areas of the West Bank that it has been discussing annexing, senior White House officials told Reuters.

The peace deal was the product of lengthy discussions between Israel, the UAE and the United States that accelerated recently, White House officials said.

The agreement was sealed in a phone call on Thursday between Trump, Israeli Prime Minister Benjamin Netanyahu and Sheikh Mohammed Bin Zayed, crown prince of Abu Dhabi.

The officials described the agreement, to be known as the Abraham Accords, as the first of its kind since Israel and Jordan signed a peace treaty in 1994. It also gives Trump a foreign policy success as he seeks re-election on Nov. 3.

White House officials said Trump senior adviser Jared Kushner, U.S. Ambassador to Israel David Friedman and Middle East envoy Avi Berkowitz were deeply involved in negotiating the deal, as well as Secretary of State Mike Pompeo and White House national security adviser Robert O'Brien.

A joint statement issued by the three nations said the three leaders had "agreed to the full normalization of relations between Israel and the United Arab Emirates."

"This historic diplomatic breakthrough will advance peace in the Middle East region and is a testament to the bold diplomacy and vision of the three leaders and the courage of the United Arab Emirates and Israel to chart a new path that will unlock the great potential in the region," the statement said.

Delegations from Israel and the United Arab Emirates will meet in the coming weeks to sign bilateral agreements regarding investment, tourism, direct flights, security, telecommunications and other issues, the statement said. Read more at Reuters