DUBAI:

The export credit agencies of the United Arab Emirates (UAE) and Israelhave signed a cooperation agreement to develop economic relations betweenthe two countries, the UAE’s state news agency WAM said.

Etihad Credit Insurance and the Israel Foreign Trade Risks InsuranceCorporation (ASHR’A) plan to support jointly exports, trade, and investmentbetween the two countries, WAM said.

Since the UAE and Israel agreed to normalise relations in August, the twocountries have signed a series of accords to boost economic and businessties.

The annual exchange of trade between Israel and the UAE across severalindustries is expected to reach $4 billion per year, the WAM