“UAE-Israel Abraham Accord” - Unlocking New Business Opportunities for UAE and Israel members

The signing of the peace agreement between Israel and the United Arab Emirates (UAE) was one of the most significant agreements in the Middle East region in recent times. Officially known as the "Abraham Accords Peace Agreement: Treaty of Peace, Diplomatic Relations and Full Normalization Between the United Arab Emirates and the State of Israel," the collaboration between the United Arab Emirates and Israel was announced on August 13, 2020, and signed on September 15, 2020 at the White House.

With this agreement, UAE has scrapped an economic boycott against Israel, which was in place for many years. This is expected to enhance the trade and financial opportunities between the two countries. According to some estimates from Israel, trade with the UAE could eventually total $4 Bn a year, creating 15,000 jobs. Bahrain has joined the UAE and signed a similar agreement with Israel, indicating the significance of this development.

Key sectors the collaboration is expected to develop include:

• Start-ups and Innovation
• Smart Farming
• Security and Surveillance
• Tourism
• Trade
• Education
• Healthcare

Following this agreement, a Memorandum of Understanding (MOU) has been signed between Ethics Plus and Yeskin & Co to collaborate and offer their services to each other’s clients.

Ethics Plus Group is a medium-sized accounting and consultancy practice established in 1995 by Mr. A.R. Ramachandran based in Dubai. The key services provided by the firm include Audit & Assurance, Outsourced Accounting, and finance functions, CFO services, VAT Advisory, Business Incorporation. The firm’s advisory services arm also has core consulting capabilities including Mergers & Acquisitions (M&A) Advisory, Corporate Finance, Fund Raising and Market Entry strategy. The firm has a diverse clientele mix from countries all over the world, representative of the more than 230 nationalities who live in UAE. The firm has enormous experience in most industries some of them being trading, manufacturing/industrial, real estate, healthcare, education, technology, professional services, and F&B.

Yeskin & Co. was established in 2001 by Mr. Moshe Yeskin and is located in the centre of Tel-Aviv. Their team comprise high-calibre professionals, experts in their fields, who provide comprehensive, personal and high-quality service. Services include accounting, consulting and tax services to companies and enterprises, individuals and non-profit organizations in Israel and overseas from various and diverse sectors of the economy. Yeskin & Co believes in providing personal attention to clients thus enabling them to identify their additional needs, to locate further business opportunities for them, and to help them grow their business.

The strategic partnership between Ethics Plus and Yeskin & Co., combining Ethics Plus leading management consulting services with Yeskin’s strategy-led accounting & tax solutions, will help support clients in the new business landscape.

We invite members' clients, associates and friends to use this partnership as a bridge for expanding their business to UAE/Israel. Please feel free to contact Mr Ranganathan Ramachandran and Mr Moshe Yeskin with any question or request that you may have.