In an interview with state news agency WAM, Israel’s Foreign Minister Yair Lapid said: "It is estimated that the bilateral trade potential will multiply many times over in the coming years."
Lapid, who arrived in Abu Dhabi on Tuesday for a two-day official visit, is the first Israeli minister to visit the UAE since the signing.
This is his second foreign visit since he became the Alternate Prime Minister and Foreign Minister in the new coalition government formed this month.
Dubai Government announced on January 30 that the emirate’s trade with Israel in the first five months had reached a value of AED1 billion.
The Israeli diplomat was quoted by WAM as saying: "This visit does not occur in a vacuum, it comes after the comprehensive work carried out by many people, which is bearing fruit today. This historic moment is thanks to them, and benefits us all."
He inaugurated the Israeli Embassy in Abu Dhabi on Tuesday and met with Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation. He will open the Israeli Consulate General in Dubai on Wednesday.
He added: "I am happy to see that Israelis are coming to visit the UAE and I am sure that joint tourism will expand, and we look forward to welcoming Emirati tourists to Israel.
"The first year [of Abraham accords and first official visit] are just the beginning of the journey. We need to allow our economies to integrate and prosper. We need to preserve the open dialogue and open-mindedness."
He added that Israel’s pavilion at Expo 2020 Dubai, which will open in October, is another stepping stone in the building of relations.
The minister said he was encouraged by the business cooperation in the field of advanced technologies between Israel and the UAE.
"Since September 2020, a number of transactions, valued at tens of millions of dollars, have been signed between Israeli and Emirati companies in the fields of AI, cyber, renewable energy, water security, health and more," Lapid said.
"The horizons are promising for companies from both countries operating in these and other fields, including food security and desert-tech."
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