DUBAI, Sept 14 (Reuters) – The United Arab Emirates aims to raise the value of economic activity with Israel to more than $1 trillion in the next 10 years, hoping to work together on everything from healthcare to climate change and energy, the UAE economy minister said. The Gulf Arab state has signed dozens of memorandums of understanding with its new ally in the year since it became the first Arab state to normalize ties with Israel this century. It was not immediately clear how the two countries expect to reach $1 trillion in economic activity in the next decade. The UAE and Israel have between $600 million and $700 million in bilateral trade, the minister, Abdulla Bin Touq Al Marri, told a virtual conference on Monday. Official Israeli data shows Israel-UAE trade in goods was $610 million in the first seven months of 2021, $400 million of which was UAE exports to Israel and half of that was diamonds.
