The Abraham Accords refers to treaties between the UAE, Israel, Bahrain and the United States. Since their signing, the countries have been mutually exporting and importing a variety of products, and trade relations between them were expected to improve in the coming months.
The UAE and Israel had only had limited relations since the Gulf state gained independence in 1971.
“Since the normalization of relations between the two countries in August 2020, the UAE has exported [steel] rebar and heavy sections to Israel,” the UAE’s biggest steel producer, Emirates Steel, told Fastmarkets.
“The UAE has an advantage of shorter delivery times because of its geographical proximity to Israel, so I believe...