Israel, Bahrain Start Free Trade Agreement Talks

By i24
Posted on 09/20/22 | News Source: i24

Israel-Bahrain trade in 2021 totaled just $7.5 million, while Israel-UAE trade could reach $10 billion by 2027

Israel and Bahrain began negotiating a free trade agreement, Israel's Economy Ministry said Tuesday.

The Jewish state normalized diplomatic relations with the Gulf Arab state and its neighbor the United Arab Emirates two years ago under the US-brokered Abraham Accords, which hit its two-year anniversary last week.

While economic ties with the UAE took off, Israel's trade with Bahrain lagged far behind.

In May, Israel forged a free trade deal with the UAE – its first with an Arab country – that officials estimate will increase trade from $1.2 billion to $10 billion in five years.

Israel-Bahrain trade in 2021 totaled just $7.5 million.