Obaid Saeed Al Dhaheri, UAE Ambassador to Việt Nam (left), and Nadav Eshcar, Israeli Ambassador to Việt Nam (right). — Photo courtesy of the embassies

*A special Joint Op-Ed by Obaid Saeed Al Dhaheri, UAE Ambassador to Việt Nam, and Nadav Eshcar, Israeli Ambassador to Việt Nam

On August 13, 2020, the United Arab Emirates and the State of Israel made history in announcing the establishment of relations through the Abraham Accords, which chart a vision of optimism and opportunity for generations to come. As engines of progress and economic prosperity in the Middle East, the UAE and Israel have set out to achieve what few others have managed: to generate economic growth to the benefit of all while fostering peaceful solutions to some of the region’s most challenging conflicts.

Already, the UAE and Israel have begun to elevate our partnership across a number of key fields, including investment, health, technology, tourism, culture, and aviation. Immediately following the initiation of relations between our two countries, numerous Emirati and Israeli companies announced their intention to establish offices in the other’s country. From banking to real estate and agriculture, up to 500 Israeli companies are expected to call the UAE their home by the end of 2020.

Following the accord’s announcement, the UAE, US, and Israel launched the Abraham Fund to mobilise more than US$3 billion in private sector-led investment to promote regional economic cooperation and prosperity in the Middle East and beyond. The fund’s priorities include boosting regional trade and employment, enabling strategic infrastructure projects, increasing energy security through the provision of reliable and affordable access to electricity, improving agricultural productivity, and increasing regional access to clean water.

At its heart, the UAE-Israel accord will create a better future for Arab and Israeli youth where professional opportunities abound. Enhancing the quality of life of the region’s peoples while connecting our economies will also create a bridge of growth and development across the Middle East. Bilateral trade will rise, tourism numbers will increase substantially, and innovation will grow as we combine our resources and serve as entry points for each other.

We have already begun to see the tangible benefits of this bilateral cooperation: Recently, the UAE and Israel set out to collaborate on COVID-19 vaccine research and development in line with the belief that global health security requires that countries work together to prioritise the common good. 

In recent months, we have also demonstrated that successful cooperation requires open communication, transparency, and a willingness to tackle challenges side-by-side. The accord has reinforced interfaith and intercultural tolerance, with a new era in Muslim-Jewish relations on the horizon. Moreover, the accord paves the way for diplomacy and dialogue between Israeli and Palestinian parties as both sides determine a path forward. 

Recognising that the stability and growth of our region depend on friendly relations between our countries, we believe that economic, cultural, and diplomatic engagement are essential to forging a lasting peace for coming generations. 

Indeed, this concept is familiar to the people of Việt Nam: economic and cultural exchange have been hallmarks of Việt Nam’s global outreach. Situated on strategic waterways and linked by land to its neighbours, Việt Nam has used its geographic positioning as a launchpad to the world – including our two countries, the United Arab Emirates and the State of Israel.

In fact, the UAE is Việt Nam’s primary trade partner in the Middle East and North Africa and serves as a gateway for the trade of Vietnamese goods in the region. Total non-oil trade between the UAE and Việt Nam reached nearly US$8.2 billion in 2018, with the UAE accounting for a substantial 54 per cent of total non-oil trade between Việt Nam and the GCC that year.

For its part, Israel serves as a valuable partner to Việt Nam. The two countries’ negotiation of the Việt Nam-Israel Free Trade Agreement is slated to further facilitate economic exchange and accelerate investment in key sectors. 

Together, our three countries can embark upon a new era of Middle East-Southeast Asia cooperation. We each boast unique offerings, from the Emirates’ multicultural society hosting over 200 nationalities to Israel’s cutting-edge technology and Việt Nam’s natural resource wealth. 

In the bustling markets of Hà Nội and across Việt Nam’s pristine countryside, where nearly 100 million people have witnessed the incredible growth of their country in mere decades, one word rings true: opportunity. 

From its modest roots in agriculture and manufacturing to a trade-focused hub in Southeast Asia, Việt Nam has continued on its path of advancement and set an example for other developing countries in the region. The UAE and Israel, both young and ambitious nations, have done the same in creating a new model of cooperation for the Middle East. 

We believe that incredible opportunities await countries that choose peace over personal gain and collaboration over competition. In taking this bold decision to establish relations, our countries have sent the world a firm message of the benefits of peace: We all stand to gain in a world where friendship and mutual understanding flourish. VNS